We expect further upside for Uzma after it pushed above the RM0.74 resistance and hit a new 52-week high yesterday. In view that the 20-day and 50-day EMAs are starting to turn upwards, a positive outlook can be expected here. A bullish bias may emerge above the RM0.74 level, with a stop-loss set at RM0.69, below the 20-day EMA. Towards the upside, the near-term resistance level is seen at RM0.85, followed by RM0.90.

Entry : RM0.74–0.76

Target : RM0.85, RM0.90

Exit : RM0.69

Source: AmInvest Research - 3 Aug 2023