• Target Price: RM0.790, RM0.880

• Last closing price: RM0.755

• Potential return: 4.6%, 16.6%

• Support: RM0.700

• Stop Loss: RM0.660

Possible for sideways breakout. UUE is potentially staging a breakout from its sideways channel, with anticipation of continuous improvement in both momentum and trend in the near term. Should immediate resistance level of RM0.790 be genuinely broken with renewed buying interest, it may continue to lift price higher to subsequent resistance level of RM0.88. However, failure to hold on to support level of RM0.70 may indicate weakness in the share price and hence, a cut-loss signal.

Source: PublicInvest Research - 11 Nov 2024