UOL Group: Bear has Taken Over!

UOL Group’s uptrend has ended after the stock price break the uptrend resistance. 20D and 50D MA have crossed the 200D MA recently indicate the official start of down trend. Currently UOL rebounds to test 20D MA resistance and also the 78.6% Fibonacci Resistance at about $$4.36. This level is probably the last chance to get out before the stock price moves even lower. BTW, I am aiming to short if UOL fails to break this resistance and turns down.


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