UMS Stock Code 558.SGX
Outlook
Price, after reaching a high at 1.29 on 15 December 2022, went into a correction. The correction was supported above the cloud, keeping the bullish price trend intact. Price also managed to stay above the Fibonacci 50% correction point, hinting that this decline is a corrective decline. Lagging Span is below price of 26 days ago but is above the cloud at the moment. MACD is above the zero line and hinting at a bullish price trend. If price is able to stay above the cloud, it could be heading towards the previous resistance high at $1.29.
Strategy
$1.16 Buy
$1.29 Price Target
$1.07 Risk Management Stop
3 weeks Trade Duration
