UWC is consolidating, testing the RM7.32 resistance level. With its RSI indicator pointing upwards, coupled with higher trading volume, we see a possibility for a technical breakout. If this happens, we expect it to move towards the short-term target prices of RM7.62 and RM7.92. The downside support is projected at RM7.02. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM7.32

Target: RM7.62, RM7.92 (time frame: 2-4 weeks)

Exit: RM7.02

Source: AmInvest Research - 13 Nov 2020