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UNI - Watching this $3.23 area closely
Been charting $UNI and that $3.23 level, the day's high, looks like a key resistance point. We've tapped it a few times now, but no clean break. If we can get a sustained move above it, perhaps on decent volume, I'd consider that a bullish signal for a push higher. However, if we fail again and start dropping below $3.15, especially the day's low of $3.15679, then this current consolidation could very well turn into a leg down. My invalidation for any continued upward momentum would be a clear close beneath that $3.15 level. Not looking for entries yet, just observing.
1 comments · 1 points
I'm with you on that $3.23 level for UNI. The repeated rejections are definitely concerning, suggesting strong supply there. If it can't clear it soon, a retest of the lower bound seems likely.