Chart Source : Poemsview 22nd May 2018
UMS is seeing another day of selling and has hit our downside target of $0.95 from our previous posting.
We are now anticipating our next target of $0.925-0.93 region to be met. We will evaluate once again once it reaches that level as there might be some support there. So taking some profit might be a good idea as we have seen a 10% profit so far since our entry.
One possible reason for this downturn could be because UMS supplies to one of its major company whose forward guidance didn’t seem too optimistic hence the sell off. Will update more as it comes.
For now, it pays to be ahead of the crowd and not short at this level as your risk reward would not be as good.
Of course, OUR EXCLUSIVE CLIENTS were informed of this trade much earlier at $1.07 where the risk reward is much better.
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