United U-Li Corporation posted 3 white candles in a row and its 20-day EMA started to turn up yesterday, indicating the return of buying interest. The stock also broke out of the 1-month bullish flag pattern, likely suggesting that upward momentum is picking up further. A bullish bias may emerge above the RM1.55 level, with stop-loss set at RM1.38, below the 5 Oct low. Towards the upside, near-term resistance level is seen at RM1.70, followed by RM1.80.

Entry : RM1.55–1.58

Target : RM1.70, RM1.80

Exit : RM1.38

Source: AmInvest Research - 11 Oct 2023