UMS Stock Code 558.SGX
Outlook
Price reached a high of $1.65 on 15 July 2021 and a price correction after this high was halted by the Base line at $1.53. A price rally from this low moved above the previous high, creating an Ichimoku V shaped reversal. This Ichimoku reversal has a V-shaped price target at $1.77. Conversion and Base lines had a bullish crossover, confirming the bullish trend. Lagging Span is above price of 26 days ago and is above the cloud, confirming the bullish trend. MACD remains bullish with both its lines far above the zero line, which is a hint of a strong bullish price trend. We are expecting price to advance to the Ichimoku price projection target at $1.77
Strategy
$1.66 Buy
$1.77 Price Target
$1.60 Risk Management Stop
3 weeks Trade Duration
