Chart Source: Poemsview 15th Oct 2018
UMS along with other electronic stocks like Hi-p, Venture, valuetronics all saw it tumble down over the last week.
And Just a week ago , our EXCLUSIVE CLIENTS were alerted of UMS when it started to break its support line at $0.725. A nice downwards movement started to happen and with the dow crashing over 800 points it helped us achieve a 10% downside since alert!
A very nice trade for a week if you ask us.
So whats next? As UMS hits our downside target of $0.645 it started to rebound. Will this rebound be sustained?
Some factors that we are considering
- As Hi-P flagged out lower profit for Q3 this could signal a lower profit for those in the similar industry together with a dimmer outlook. This could dampen sentiments in the electronic space and UMS might take a further hit.
- Currently, UMS is resisted by its 5 days moving average. It closed with a doji today and if it continues to fall then further downside to $0.64 might be seen. But if it manages to clear and remain above the 5MA then we might see some rebound.
- Pending any upgrades/downgrades from banks/brokering houses. Any negative or positive reports might be a catalyst for UMS too.
So these are some of the factors we’re considering before making any moves.
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