UIC gaining traction

Good day traders/investors,

I have a chart of UIC, U06.SI, for today. On the left half of the chart, you can see two congestion areas where UIC traded without a clear direction. Last year, UIC broke down from a clearly-defined ascending triangle before bottoming out. Since then, UIC gained traction and rose 18% to where it is now. A parallel channel depicts this mid-term uptrend that is about a year old already. Strong resistance at $2.92 is now support as UIC retraces down to it – together with the general market. This slight dip in UIC looks healthy for now. I favour a good mid-term trade to follow the current trend in UIC.

Captureddd

All analyses, recommendations, discussions and other information herein are published for general information. Readers should not rely solely on the information published on this blog and should seek independent financial advice prior to making any investment decision. The publisher accepts no liability for any loss whatsoever arising from any use of the information published herein.

 

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