UBL has had a very good daily move up for the last several weeks. It has come to a zone where the Bull strength is starting to fade. SELL UBL based on the following.
Head and Shoulder pattern on 4hr with neckline at 1350-1364. If a 4hr candle closes below this level, SELL without any hesitation as price will test 23.6 - 50% retracement to its low of the climb...
After giving false breakouts in the past, it seems the stock has flushed out all the weak hands out of the system and is ready to move into uncharted territory! Let's see how it moves!
The Stock has formed a perfect Cup and Handle and has also given a false breakout previously to trap longs and stop them out. However now the stock seems to be ready to fulfill its real potential and add strength going ahead. Considering its a 3.5 years Pattern, gains may not be swift but will take time on the upside!
