UNP – US share looking BULLISH

Hi All,

I’ve decided to post some news relating to the US share market. We’ve seen some UPSIDE on all the indices and this has reflected on some of the companies that make up these indices.

One that I have been trading of late is UNP. Look at the chart posted below and you will notice that we have had a great bull movement over the past couple of months – saw chaqnge in direction back in early FEB of this year. From then onwards we have seen this share move up $20.00 since then !!! WOW……….. I think there might be more come.

UNP trade setup Weekly

On a weekly time frame we have seen this break through a strong resistance level @ 200 ema. On DAILY CHART we are seeing the same thing. Price having broken through an all important ema – 200 ma in this case. Have seen it retrace (which is what is expected after breaking a major level (200 ema). It’s the Institutional moving average. And this is a good thing. If a share/stock is trading above this level, institutions tend BUY and if it is trading below this level , they tend to sell.  So back to the Daily Chart. If we can find support on the upside of this 200 ema, then expect this share price to rally to next target @ $60.00 and 2nd target around $68/70 mark….

UNP trade setup Daily Chart