UOL seems to be on a continuous downtrend mode after hitting the high of $6.95 on 15th Oct 2015 and closed lower to touch $5.39 on 12th Feb 2016. This is generally rather bearish.
The current price of $5.39 is staying below both 14SMA & 25SMA lines which is rather negative.
I see further weakness for the price moving forward as the MACD indicator is also pointing downwards which may be a tell tale sign that the share price may continue to trend lower to test the next support level at $5.00.
Breaking down of $5.00 with high volume that may drive the share price to head lower towards $4.80 with extension to $4.50.
(trade base on your own decision)
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