The ULTR chart makes me bullish
in the near term for three reasons. First, the stock has been making higher lows since the beginning of the year. Second, it has broken out of the downward channel
that has been in place for the last year and a half. Lastly, it is also developing a bullish ascending triangle
pattern. I am looking for the stock to eventually break .45ish on strong volume
. Because, on a macro level, the stock is still in a downward channel
, I am looking to take profits near the top of the macro downward channel
, around $2.