April12 Momentum Play : UOADEV

I've been observing the UOADEV recently and realised that she has just breakout from a symmetrical triangle and may have a chance of climbing the bollinger band. Well, at this price RM1.54, for those not particular on a few sen, it would be a good entry point.

TA positive view
1) Breakout of symmetrical triangle
2) MACD line bullish crossover and cross zero line recently
3) Volume is picking up
4) Daily & Weekly MACD histogram at 2G (bullish).

TA negative view
1) Stochastic at overbought level
2) Red candle today
3) General market sentiment weak & Properties index is on downtrend

For aggressive trader, one can enter tomorrow at 1.54. For conservative trader, one can enter when stochastic return to oversold level (maybe around 1.51). Stop loss should be 1.49 (should not hesitate as the overall market is quite weak ). Remember the saying "Sell in May & Go away".

Happy trading. As always caveat emptor.