CFD Trading – Buy UMS (558.SGX) @ $1.35. Stop @ $1.25 and Target @ $1.50.

UMS Stock Code 558.SGX

Price broke above the cloud on 25 November 2020 and has stayed above the cloud since that breakout. After reaching a high of $1.39 on 26 January 2021, price has been declining but had stayed above the cloud, keeping the uptrend intact. The pullback found support at the Conversion line which lies at $1.29. Conversion and Base had a bullish crossover earlier, hinting of the bullish trend. Lagging Span is above price of 26 days ago as well as above the cloud, confirming the bullish trend. MACD remains bullish and is hinting of a price rally ahead. Price is breaking out of a V-shaped pattern and if price can stay above $1.25, we are expecting price to advance towards the V-shaped target at $1.51.

$1.35                 Buy
$1.50                 Price Target
$1.25                 Risk Management Stop
3 weeks            Trade Duration

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