Uchi Technologies rose and tested the RM3.06 resistance level. With its 21-day moving average in an uptrend, coupled with a sustainable trading volume, there is a good chance that it would experience a technical breakout and head towards the short-term target price of RM3.19, followed by RM3.22. The downside support is marked at RM2.93. Traders are advised to exit on a breach to avoid further losses.
Trading Call: Buy on breakout RM3.06
Target: RM3.19, RM3.22 (time frame: 2-4 weeks)
Exit: RM2.93
Source: AmInvest Research - 11 Feb 2022
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Created by AmInvest | Nov 21, 2024