Uzma closed above the 21-day SMA line and may soon test the RM0.72 minor resistance level. Upon a succesful breach above this mark, it may continue to climb towards a target price of RM0.76 followed by RM0.815. However, it may lose its momentum if it fails to cross the RM0.72 mark in the near term. In this case, support is anticipated at RM0.66, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM0.72

Target: RM0.76, RM0.815 (time frame: 3-6 weeks)

Exit: RM0.66

Source: AmInvest Research - 28 Jun 2019