The 2009 price range of Union National Bank’s stock suggests 2.52 is critical to the uptrend this stock has been in since January last year. The stock’s price bounced strongly off that 2009 major FIBO level (weekly close) on December 10th.
Closing above 3.74 is constructive. Make no mistake, however, as momentum is bearish. It will probably get cancelled at multiple closes above 3.50, and especially the weekly FIBO of recent range at 3.60 where the stock was blocked in December.
