UOG, great small cap company, good assets, great BOD.This is an investment for me but i still like to look at the charts and hence why im looking at the weekly
Price looks like it is coiling up and has retraced approximately 50% from the highs. I think there is a high probability we we will see the all time highs broken this year with 8-8.5p being reached as a minimum
Good news flow due on there current assets and maybe something new and big in the pipeline?
UOG
UOG, good buying opportunity if we push down a little further UOG looks like a little gem. Fundamentals are very good. Excellent management and lots of exciting prospects including the BIG BOY in JAMAICA! 3d should be out soon. Im invested here but below is a trading idea
As far as technical s we've had a nice double bottom, RSi div with a break and close above. Pull back into a 61.8 % retracement and a new higher high, higher close.
IF we retrace back to the 4.55 area there is a bat pattern and a high probability for a trend continuation trade with target 1 at structure high, and t2 at all time highs
Trend Reversal - 200ma held - price congestion - bullish divergePrice is holding above the 200ma and at bottom of swing
we touched the 50% retrace of ATH and holding them.
Company has several assets and more in the pipeline
good cash position having done a placing at 4.25p not long ago.
See loads of upside here.
