Good day traders/investors,
I have a chart of UIC, U06.SI, for today. On the left half of the chart, you can see two congestion areas where UIC traded without a clear direction. Last year, UIC broke down from a clearly-defined ascending triangle before bottoming out. Since then, UIC gained traction and rose 18% to where it is now. A parallel channel depicts this mid-term uptrend that is about a year old already. Strong resistance at $2.92 is now support as UIC retraces down to it – together with the general market. This slight dip in UIC looks healthy for now. I favour a good mid-term trade to follow the current trend in UIC.
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