UWMC is looking at a strong bullish return to the upside after the stock has 1.) broken out of the corrective downtrend line, 2) Completed the ABC 3 wave corrective structure. The stock has also gapped up above 6.00 psychological level. However, would prefer a pullback at 5.80 and 5.20 support. MACD histogram is positive and MACD/signal line is rising steadily towards the zero line. Stochastic is rising steadily and 23-period ROC is positive.
Maintain buy with a target of 8.87 and 13.50. Support is at 4.80 (Major support)
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