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U Rebounding Near All Time Lows

$U is trading near all time lows in the light blue support zone between $25.28 and $27.31. I think U tends to have wicks down for a discounted buy opportunity, and I would look for an entry with those wicks around $22.28. It’s not a bad idea to have an order in place to see if it gets filled. If U does rebound here, my key price targets are $32.36 and the yellow trendline. Long term there is the potential to trend up towards $77.80 to $84.76. I personally am not a big believer in U so I won’t consider taking this trade.

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