Uchi Technologies may rise higher after it formed a long white candle and hit a new multi-year high yesterday. Given that the stock has broken out from the 2-week bullish rectangle pattern and is supported by rising EMAs, the near term bullish trend may still have legs. A bullish bias may emerge above the RM3.40 level, with stop-loss set at RM3.33, below the 50-day EMA. Towards the upside, near-term resistance level is seen at RM3.80, followed by RM4.00.

Entry : RM3.40–3.57

Target : RM3.80, RM4.00

Exit : RM3.33

Source: AmInvest Research - 11 Jul 2023