UWC (UWC | 5292)

Last Price: RM2.22 | Technical Call: BUY

UWC's buying interest is back after it broke out of the 1-week bullish flag pattern with another positive candle yesterday. The stock's move above the RM2.20 resistance coupled with its rising 20-day EMA, indicates that the near term bullish trend may persist. A bullish bias may emerge above the RM2.20 level with stop-loss set at RM1.98, below the 20-day EMA. Towards the upside, near-term resistance level is seen at RM2.40, followed by RM2.60.

Entry: RM2.20-2.22

Target: RM2.40, RM2.60

Exit: RM1.98

Source: AmInvest Research - 29 Oct 2024