Technical Pulse: UMS Holdings Ltd April 27, 2021 513


UMS Holding Ltd (SGX: 558) rebound after a strong down move in Mid-February 2021 rebounded strongly in early March 2021. Although UMS has yet to clear the high, the technical indicate that UMS is likely to rally higher:


  1. The Ascending triangle formation is indicative of a strong upside with multiple testing of the resistance zone at $1.40 region. The testing will result in a weaken resistance.
  2. The internal cup and handle formation within the ascending triangle is an added bullish continuation pattern. Beside that, the handle which can be interpreted as a bullish flag has a bullish hammer within that can constitute as a shortfall. Hence, the bullish continuation upside is bound to continue.
  3. The short-term bullish crossover is indicative of a stronger bullish continuation. Besides that, prices are still trending above all three moving averages.


*Timeline of the trade is 6 weeks from the date issued.

*Should there be a failure to break the resistance zone, further sub-corrective waves can travel lower to $1.25 region at support zone 1.



Moving average

Red dotted line = 200 periods Moving Average

Blue dotted line = 50 periods Moving Average

Green dotted line = 22 periods Moving Average

Join our telegram channel on technical analysis for trends, entry and exit prices over Stocks, ETFs, and Indices!

Featuring regular TA posts and requests to analyse specific stocks
Click to join!
Notify of
Inline Feedbacks
View all comments

Get access to all the latest market news, reports, technical analysis
by signing up for a free account today!