Chart Watch: United Engineers

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United Engineers (U04)

 

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  • Stock looks like it has bottomed out after a big selldown in August followed by a consolidation stage and then a final shakeout in Feb.

 

  • It has recovered above 200MA and looks like selling pressure has subsided.

 

  • Look to see if it can hold above the support level of $2.16

 

  • Watch for breakout with strong volume above $2.25