Chart Source: Poemsview 15th Aug 2018
UMS just released its results yesterday after market closed. UMS reports a softer revenue in 2H18 but still expects to remain profitable for the full year. Management remains positive on the long term outlook. More can be read of their results HERE
UMS had a mini rally yesterday partly due to the spillover effect from valuetronics. One could anticipate its results and gone in but we at humblestock would prefer a slightly more conservative approach. We may never know how the results surprise to the up or downside. Taking Hi-p as an example. If a trader were to hold a long position going into its results, then he might suffer a massive loss the next day due to poor earning results.
Always have a sound trade plan in mind. For now, UMS looks favourable as it is above the 5ema and might be approaching the downtrend resistance line.
If it breaks that we might see more upside.
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