UMS – [ Here’s What We Did When The Market Turned Weak ]
Chart Source: Poemsview 3rd feb 2020
UMS tumbled together with the broader market as electronic stocks sold off due to fears on how the wuhan virus might affect the economy.
With the banning of travel to in and out of China, this will affect the economy, consumption will slow down for this period as businesses brace for impact.
UMS also took a hit and hit our first target of $0.925 down 4% since our short entry. We alerted our CFD clients for those who have CFDs with us as we don’t encourage naked shorting.
Our next possible target is around $0.89 which we will continue to monitor and see how the wuhan virus is spreading.
We also like to remind everyone to continue to take precautions when heading out and to wash their hands with soap frequently. And to all the front line workers, Thank you for your selflessness and dedication.
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Yours
Humbly
Kelwin&Roy
