We saw a strong run on Friday up to $1.95 before settling down to around $1.89 by close....given the good (but nothing new) report put out by Ocean Equities on 21/5/08 and the fact that the assays from the 1st drilling are currently being reviewed in the lab....expect a strong open on Monday as further accumulation should occur for those wanting a relatively cheap entry point before the price should move sharper north coming up to the JORC review in June/July.
Expect the swing traders to play this stock well above $2 this week...
For those of you who tipped UMC to breach $2 by 26/5/08....looking like a real winner at the moment....
All my opinion.....do your own research
UMC Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held