Unisys (UIS) Showing Ominous Candles
10/01/2009 12:01 am EST
Unisys Corporation (UIS) has had a rough past week with six down days followed by an upswing candle this past Monday.
This is a lower-priced stock with good volume, however, September volume has been greater than August, and if it declines again, I would expect it to at least test the 50-day moving average.
A break below the 50-day MA leaves the next support near the $1.80 level, a price above which the candle just touched back on August 17.
By Tim Bourquin, trading content director, MoneyShow.com