Technical Pulse: UPP Ltd March 24, 2017 60

UPP Ltd  – Daily timeframe (Update from 18 November 16)


Current Sentiment: Bullish

Support 1: 0.270                   Resistance 1: 0.320

Support 2: 0.255                   Resistance 2: 0.350

The uptrend continued to move along smoothly after the last update and broke a new high at 0.325 before going into a correction. However, the uptrend remains firmly intact as the 20 and 60 day moving average hold price up. Moreover, the recent bullish rejection off the 20, 60 day moving average on 23/03/17 succeeded in breaking price above the pullback line suggests the resumption of the uptrend next. Additionally, the bullish break was backed by increasing volume.

Expect price to head higher next to test the 0.320 resistance area followed by 0.350.

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About the author

Profile photo of Jeremy Ng

Jeremy Ng
Research Analyst
Phillip Securities Research Pte Ltd

Jeremy specialises in Technical Analysis and has 10 years of experience in studying price action. His areas of expertise include intermarket analysis on the equities, currencies, commodities and bonds market.

He is also a regular columnist on The Business Times - every Monday ChartPoint column.

He graduated with a Bachelor of Science in Banking and Finance from University of London.

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