Updated View On UOL (24 Mar 2021)
We are seeing some strong rejecting in the counter from the price of $7.90~$8.0 region.
I am expecting that we might see a pullback.
The near term will be $7.50 region, provided the high of $8.1~$8.2 region is not taken out.
DYODD, all the best and read the disclaimer too.
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Study...based upon Volume Price Spread Analysis and Momentum
UOL has shown Breakout.
Close: 7.82
EP: 7.66 - 7.97
SL: 7.20
TP: 8.43 /8.79
Disclaimer: This study does not constitutes Buy/Sell per say. Please consult your financial advisor before making any trading/investing decision
Stock is in a ascending triangle chart pattern with potential to break out and continue to trend upward. To monitor if the breakout occurs at least two times above the resistance line as well as spike in volume upwards.
Rising wedge with prices testing thrice at the resistance zone and 38.2% Fibonacci retracement. Could it be the incoming of wave 1 of the bearish wave?
UOL is fast approaching a big resistance level as highlighted by the two blue rectangle boxes; one being a strong supply zone while the other is the 200EMA that will act as resistance.
Question is should we short?
My personal preference will NOT be to take a short trade, but to wait to long instead.
Reason:
1) The prior supply zone is a weak high and have...
