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:
*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.
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