UEM Sunrise surged and touched the RM0.425 resistance level with higher trading volume. With its RSI indicator pointing upwards, coupled with a higher low candle stick pattern, there is a good chance that it would experience a technical breakout and head towards the short-term target price of RM0.44, followed by RM0.46. The downside support is marked at RM0.395. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy near RM0.425

Target: RM0.44, RM0.46 (time frame: 2-4 weeks)

Exit: RM0.395

Source: AmInvest Research - 8 Mar 2021