Universal Robina Corporation (URC)

URC failed to close at the high of the day but stayed above the 78.6% Fibonacci Retracement level. This will act as our immediate support. Last October 4 we saw a weak bearish signal when the Tanken sen crosses Kijun Sen. But after that day, URC was able to move upward and is still staying above the cloud. Our next bullish signal from Ichimoku will be when Tanken Sen will cross the Kijun Sen from below among other indicators.

RSI or Relative Strength Index is still very healthy at this time. More chances of going up.

Caveat!

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