However...RSI is still far from overbought and the dividend has already been announced. This may be the catalyst for this stock to pass those resistances mentioned above.
Good luck!
Sunday, February 9, 2014
URC piercing the Kumo
Last Friday, URC pierced the Kumo with +2.4% from the previous day. If you observe on the daily chart below, URC create higher lows which we can say that this stock is now an uptrend. This stock closed last Friday at 117.8 which failed to break the resistance at 38.2% Fibonacci retracement level. Now, if this stock happen to pass this level, next stop is at 50% and 61.8% Fibonacci retracement levels which are strong resistances because the Tenkan-sen, Kijun-sen and Senkou Span B are aligned with our Fibonacci.
However...RSI is still far from overbought and the dividend has already been announced. This may be the catalyst for this stock to pass those resistances mentioned above.
Good luck!
However...RSI is still far from overbought and the dividend has already been announced. This may be the catalyst for this stock to pass those resistances mentioned above.
Good luck!
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