United U-Li Corporation’s buying momentum is back after it broke out of the 1-week bullish pennant pattern with a long white candle yesterday. A new 52-week high coupled with rising EMAs, additional upside strength may be present in the near term. A bullish bias may emerge above the RM1.40 level, with stop-loss set at RM1.28, below the 1 Sep low. Towards the upside, nearterm resistance level is seen at RM1.60, followed by RM1.70.

Entry : RM1.40–1.47

Target : RM1.60, RM1.70

Exit : RM1.28

Source: AmInvest Research - 7 Sept 2023