UMC - Long - Possible Wedge BreakoutPossible wedge breakout. Retest 10.13/10.66-new support levels
PT Range 11.00-12.00
9.50 Entry
Options buy - Feb 19 2021, $10 Call
United Microelectronics Corp. engages in the semiconductor foundry business. It offers complementary metal-oxide semiconductor (CMOS) logic wafers, mixed signal wafers, radio frequency complementary metal-oxide semiconductor wafers, embedded memory products, high voltage integrated circuits (ICs), and complementary metal-oxide semiconductor image sensors. The company was founded on May 22, 1980 and is headquartered in Hsinchu, Taiwan.
UMC trade ideas
UMC dropped w/market, much needed consolidation for run to $10I like that this stock refocused on smaller semiconducters that power stay at home electronics like smart speakers,smart screens, smart home security devices, etc.I like that this stock refocused on smaller semiconducters that power stay at home electronics like smart speakers, smart screens, smart home security devices. A big catalyst could be that EV cars will be the hype 2021 and small semic's will be in high demand as EV companies try to churn out record numbers.
Long Calls Once Wedge Confirms Price Movement
UMC $7.66 entry to $12There is a lot of volume moving into this foundry play on the toshiba news. pink indicates gap channels support/ resistance along the way. Likely to see some consolidation here until we get more news, perhaps a easy move to $12 for ER. Personally I am eyeing an entry in this at $7.66, thoughts? NOT advice just what I see!
$UMC Double Divergence PlayYou 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.