After penetrating an existing trendline of support (purple line) in late January, UWL showed a series of rising daily lows (pink line) that were more or less parallel with the trendline. A few weeks later, it gapped up, and last week reverted to the existing trendline of support.
Over the next week, one will would want to monitor if the trendline gets penetrated again. If it stays above it, it should help to confirm a possible false breakout from earlier this month.
The purple trendline has risen about 40 per cent in the last six months or so.
UWL Price at posting:
$1.72 Sentiment: None Disclosure: Not Held
