Technical Pulse: UMS Holdings Ltd December 1, 2021 708

UMS Holdings Ltd (SGX: E28) Bullish upside is set to continue as suggested by the sub-minor wave analysis, as wave (5) has yet to be completed:   


  1. High wave candle was spotted on Tuesday and the upper shadow is seen rejecting the Tenkan-Sen.
  2. The current wave analysis suggests a corrective wave (4), with wave C being the last leg. Judging from the price action, the price may retrace to the resistance turned support zone at $1.41-$1.37, which is the 50.0% and 61.8% Fibonacci retracement of wave (3).   




*Expected timeline of the trade is 15 weeks from the date of report issuance.



Ichimoku Kinko Hyo

Red dotted line = 26 periods Kijun-Sen

Blue dotted line = 9 Periods Tenkan-Sen

Green Line B= 52 periods Senkou Span B

Pink Line A = 26 periods Senkou Span A

Black line = 26 periods Chikou Span. Lagging line

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!