Chart Source : Poemsview 17th May 2018
UMS a stock that was on our shorting list back on 27thApril. We were closely monitoring this electronic related counter at $1.07 as it started to show signs of weakness.
3 Simple Reasons Why It Turned Down
- It couldn’t break the downtrend line which we drew back on 27th April
- It broke our horizontal support of $1.07
- The moving averages were starting to slop downwards
With our simple analysis we alerted our EXCLUSIVE CLIENTS regarding UMS.
As they say, the rest is history. UMS has fallen to the 200ma as Blogged for all to see, BUT as there was an xd, our downside target has been shifted to $0.99 instead, just one more pip.
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