UMS Stock Code 558.SGX
Outlook
After reaching a high of $1.57, a price correction is sending price towards the support provided by the Conversion and Base lines. The price decline has also managed to stay above the gap support and the cloud, keeping the bullish trend intact. Conversion and Base lines had a bullish crossover earlier, hinting at a bullish price trend. Lagging Span is above price of 26 days ago and is above the cloud as well, confirming the bullish trend. MACD is bullish with both its lines high above the zero line. We are expecting price to be supported by the Conversion and Base lines. We are expecting a rally to bring price to the previous high at $1.57 in the next 2-3 weeks.
Strategy
$1.45 Buy
$1.57 Price Target
$1.39 Risk Management Stop
3 weeks Trade Duration
