Whilst remaining longer-term bullish on UGE International, we took profits in it on the 8th
to sidestep the reaction that has since followed, a move which turned out to be worth it, as it reacted back sufficiently to justify our having done this. This morning it looks ready to turn up and advance again, with a bull Pennant completing and volume having died back to a very low level that suggests renewed advance is imminent.
Accordingly, about half an hour ago, an Email alert was sent out saying that the time has come to buy it back, which read as follows…
“It looks like the time has arrived to buy back UGE International (UGE.V, UGEIF on OTC) that we sold at C$0.47 on the 8th to sidestep the reaction back that has followed. The reaction was of sufficient magnitude to justify us doing this. The chart for UGE continues to look very favorable and it is believed to be be completing a countertrend Pennant, with the volume dieback to this point being very bullish, and the current very light volume a sign that it is ready to start higher again.
UGE is therefore rated an immediate buyback. It is currently trading at C$0.38, $0.297 at about 10 am EDT. A brief update article with chart will be posted on the site as soon as possible.”
This article serves to put this course of action on the record and is to enable you to examine the latest chart.
UGE International website
UGE International Ltd, UGE.V, UGEIF on OTC, trading at C$0.38, $0.297 on 20th July 20.
Posted at 11.05 am EDT on 20th July 20.