UWC

Sector: Semiconductor / Technology

UWC quarterly performance has been growing steadily since its IPO in 2019. Its most recent quarter performance, however, took a slight dip due to logistical challenges for certain semiconductor equipment, thus affecting its revenue. UWC share price has been on a downtrend since its peak in February 2021. EMA25 and 50 are aligned trending downwards, with a dead cross taken place in May-2021.

UWC is currently trading at RM5.27, immediate resistance at RM5.60, with major support at RM4.88.

The KLSE semiconductor sector is generally retracing since the bull run in early 2021. But with Nasdaq continuously breaking new high, semiconductor/ technology sector could return with a strong uptrend. UWC share price seems to be challenging its downtrend, but at current stage, it is too early to know if a reversal is happening. Confirmation signals required.

Reason to Monitor: Good prospects as highlighted in QR.

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