Nott Invest
UCHITEC- breakout from consolidation soon?
Nott_Invest
Publish date: Sun, 19 Sep 2021, 11:49 PM
UCHITEC
Sector: EMS/Industrial Products
Analysed on 19/09/2021
UCHITEC stood firmly on EMA 25 after hitting resistance by August. As long as the price stay above EMA 25/50, its’ uptrend still considered valid. UCHITEC is currently trading at RM3.150, with immediate support at RM2.970 and immediate resistance at RM3.330.
Overall, UCHITEC looks stable as having consolidation since the major retracement from early March. Looking at the chart from a wider view, there is actually a formation of round bottom pattern, which is also a bullish sign for UCHITEC. Investor who is interested in UCHITEC could take EMA25 or support level as reference for entry point.
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