UEMS (5148): Bullish

Pattern: Cup & Handle Breakout & A Bullish Flag Pending To Break

From UEMS's weekly chart above, we can see a cup and handle pattern formed in a year plus and subsequently UEMS broke out the neckline in 7 March 2017 with strong volume. 

The resistance level as boxed in red are: 1.60 and 1.95.

Due to the strong accumulation volume in UEMS (as circled in brown), it will be a relatively safe bet to ride on its bullish trend.

From UEMS daily chart above, we can spot a break and retest of the neckline (as circled in blue) hence it confirms a real break of the pattern. For the past week, UEMS has been consolidating and a bullish flag is formed and it might be about time to break and continue its bullish momentum.

The target prices for UEMS are: 1.45, 1.60, 2.00 & 2.22 for the time being.

I am bullish on UEMS when it is above 1.10.

Apart from the technical aspect, UEMS is also one of the election counters picked by RHB (#36). Refer below:

I have previously done analysis on a few of the potential election plays counters such as SIME DARBY, MYEG, SAPURA KENCANA now becomes SENERGY, E&O, GENTING. If you look at the list above, there are quite a few more in a strong trend and are great opportunities for trading / investing.

Leave me a comment below and let me know what you think. If you have any queries or want to share the next big stock with me, feel free to contact me via my email or FB page below.

Topics That You Do Not Want To Miss

How to determine the "bullishness" of the patterns- https://www.facebook.com/BursaSGXcandlestick/videos/378260995905662/

The Trade Management Technique You Need To Know - http://klse.i3investor.com/blogs/candlestick/114496.jsp

Best Way To Learn To Trade Without A Mentor - http://klse.i3investor.com/blogs/candlestick/113821.jsp

Entry Setup Illustration - http://klse.i3investor.com/blogs/candlestick/113605.jsp

Stop Loss & Safe Trading - http://klse.i3investor.com/blogs/candlestick/113510.jsp

Ultimate Guide For Position Sizing - http://klse.i3investor.com/blogs/candlestick/113061.jsp

Come Up With Trading Ideas & Turn Them Into Investing Ideas - http://klse.i3investor.com/blogs/candlestick/114110.jsp

Cheers,

Ming Jong

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