UPP (technical)

UPP: stock has bounced nicely off its 0.38 Fibo retracement level (coincide with the 50day MA). RSI and Stochastics are beginning to reverse upwards, which suggests positive near term price action. The rising 50day and 200day MA suggests that the longer term outlook still mains positive. A break above the 0.375 resistance (coincide with 20day MA) could see the stock re-test its previous $0.46 high. Traders playing the bounce should keep a strict cut loss if price goes below $0.30.