Chart Source: AdvisorXs 5th Aug2021
Another leg up for UMS as it burst out from the $1.70 resistance. From our previous post, we mentioned that $1.70 was the resistance and a break of that might see $1.75 which we witnessed today. A good start to the day we say!
$1.75 does look like a stronger resistance but with the increase renew interested and volume, we might see $1.80 in the coming days. It is at its all time high so we’re looking at an ugly candle or reversal candle to indicate weakness. Its also wise to take profit along the way now.
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