Will this break down channel before it hits long term support at 1.96?
I'm seeing a nice long position for UMC developing. Technicals: - RSI in pennant in the oversold region. - Price forming a falling wedge, falling into the support of the inverted cup long term support. T1 Jun15-Aug15: 2.38 T2 Jun15-Dec15: 2.60
We have hit the last stand with UMC as we are likely to see a slide in the stock leading to a triple top