URC starts to look good. Will it bounce on support?

URC has been falling since the last time we saw the Bearish Engulfing Pattern. Notice also that we have a triangle formation where our recent fall can be considered our lower high. Will it continue to fall until it find support at the lower slope?

Based on Ichimoku system, we might see a strong bullish signal soon IF Tenkan Sen will cross the Kijun Sen. Remember that last October 4 we have a Weak Bearish Signal and now this is poised to do a reverse crossing.

The Kumo will also serve as our support aside from the lower slope. RSI or Relative Strength Index is now 52 from the high of 70. Test buy would be ok at this level.

Caveat!

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felix

A computer engineer by profession and loves to develop online systems/websites. A self-taught stock trader who loves to share his knowledge and enjoys learning, expanding knowledge and staying well-informed. Most often he uses candlesticks, Fibonacci Retracement levels, Ichimoku system on his technical analysis but loves to hear some rumors as well.

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