UMS after touching the low of 50 cents on 11th Feb 2016 it had managed to trend higher to hit 61 cents on 11th April 2016. This is rather bullish.
As reflected on the chart we are able to notice 3 long white Bar gaining new high for the past three days of trading. Couple with good volume. This is generally quite positive.
Short term wise it may continue to trend higher.
Also both Macd & Rsi are still pointing upwards which may provide further indication that the share price may continue to head higher.
The immediate overhead resistace is at 61.5 cents. Crossing over of 61.5 cents with ease + good volume that may propel to drive the share price higher towards 68.5 cents then 70 cents with extension to 76 cents.
(trade base on your own decision)
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