UIS broke out, despite a correction in the markets. It has built a multi week base in the context of an accumulation phase, and now possibly is breaking out into a phase 2 Uptrend.
UIS made a massive +60% weekly rise after it agreed to sell its federal government contracting division to SAIC for $1.2 billion. The result technically, was an extremely overbought 1D chart (RSI = 80.509, MACD = 0.480, ADX = 39.766) with the price approaching the 21.00 Resistance (Since September 2018).
There is an interesting technical pattern when the RSI hits...
looking for pullback to 13.5.
$12 has 3 levels of support from rising trend line and weekly charts and fib retrenchment
broke out of from the regression and the 20ma with large volume.
Yeah so simple story people: UIS is a volatile stock that went up 20 percent because of good earnings. boom. done. end of story. Long or short? dunno yet. It could drop from today's highs or it could fly higher on heavy volume. so watch out for it during the market open. comment on where u think it will go and follow me for idea alerts! happy trading!
