UWC

Sector: Technology / Precision Component

Analyzed on 14/11/2021

UWC has been on a steady uptrend since May 2021, climbing from RM5.00 to RM6.25+ before closing the weak at RM5.98. Looking at its uptrend channel and higher-highs and higher-lows, we can tell that UWC’s uptrend is still intact. Now trading near to the base of its uptrend channel, it is likely for UWC to rebound higher.

Company development wise, construction for its rented second facility (60-70k sq ft floor space) in Batu Kawan has recommenced following the easing of the lockdown. Management expects the site to be completed by Dec 2021 with physical operations to commence by Jan 2022. With positive growth outlook, Nomura has given a TP of RM6.87 for UWC.

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