CyberNV
Long

$UMC Double Divergence Play

NYSE:UMC   UNITED MICROELECTRONICS CORP (NEW)
UMC
33 0 1
umc
You can see from my projection I am expecting price to move over the $2 mark. Look for the MACD to turn. There is Divergence on the MACD and RSI . it looks like it had finished a Inverted Head and Shoulders Pattern around Feb. follow the Volume . Looks like this could be the end cycle that would finish the shoulder on another.
Trade active: Still looking for test around 2.10. this will probably turn into a two trade opportunity. Will evaluate once target is hit and will see how volume is around the 2.25 area..... Could be nice slow movement up from here.
Comment: Still active. I re evaluated price action. I am playing on the cautious side and changing target to the .618 retracement...
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