UWC rebounded and touched the RM6.00 resistance level. With its RSI indicator in an uptrend, coupled with a sustainable 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 RM6.25 and RM6.34. The downside support is projected at RM5.78. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM6.00

Target: RM6.25, RM6.34 (time frame: 2-4 weeks)

Exit: RM5.78
 

Source: AmInvest Research - 30 Nov 2021