UWC may trend higher after it broke above the RM3.60 resistance and hit its 4-month high yesterday. The stock also posted 3 white candles in a row and its 20-day EMA has started to turn up, likely suggesting that bullish momentum is picking up further. A bullish bias may emerge above the RM3.60 level, with a stop-loss set at RM3.38, below the 50-day EMA. Towards the upside, the near-term resistance level is seen at RM4.20, followed by RM4.40.

Entry : RM3.60–3.82

Target : RM4.20, RM4.40

Exit : RM3.38

Source: AmInvest Research - 15 Sept 2023