UMW Holdings may soon test the RM4.78 level after printing a while candle. With a neutral RSI level, it may move higher above this mark with a target price of RM5.05, followed by RM5.50. Meanwhile, it may drift sideways if it fails to cross the RM4.78 mark in the near term. In this case, support is anticipated at RM4.41, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy on technical rebound above RM4.78

Target: RM5.05, RM5.50 (time frame: 3-6 weeks)

Exit: RM4.41

Source: AmInvest Research - 14 Nov 2018