UWC surged past the resistance level of RM2.84 in the latest session. With the momentum indicator RSI above 60%, the bullish momentum may continue and move towards the target prices of RM3.03 and RM3.10. If it dips below RM2.84, it will move sideways for further consolidation. Meanwhile, the immediate support is anticipated at RM2.70, whereby traders may exit on a breach to avoid the risk of a further consolidation.
Trading Call: Buy on continuation above RM2.84
Target: RM3.03, RM3.10 (time frame: 3-6 weeks)
Exit: RM2.70
Source: AmInvest Research - 18 Dec 2019
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Created by AmInvest | Nov 25, 2024