UMS Stock Code 558.SGX
Outlook
Price broke above the cloud and close above the cloud yesterday which could be start of a bullish trend towards $1.14. We saw a strong candlestick yesterday as well with a bullish Engulfing candlestick price pattern reinforcing the bullish trend. Conversion and Base lines had a bullish crossover earlier, confirming the bullish trend. Lagging Span is above price of 26 days ago and is above the cloud as well, confirming the bullish trend. MACD is bullish. Both of MACD lines are above the zero line, hinting of a bullish trend. We expect price to move higher to the previous high of $1.14.
Strategy
$1.05 Buy
$1.14 Price Target
$0.995 Risk Management Stop
3 weeks Trade Duration
