United U-Li Corp’s buying interest is back after it broke out of a 1-month bullish flag pattern yesterday. With the stock posting 2 positive candles in a row and pushing near its 52-week high, the upward momentum appears to be picking up. A bullish bias may emerge above the RM2.10 level with stop-loss set at RM1.98, below the 50-day EMA. Towards the upside, near-term resistance level is seen at RM2.40, followed by RM2.50.

Entry : RM2.10–2.19

Target : RM2.40, RM2.50

Exit : RM1.98

Source: AmInvest Research - 2 Aug 2024