Yesterday, UZMA’s share price dipped further after it failed to overcome its recent high @RM4.90. Profit taking activities are emerging as the market digest the news on UZMA’s plan to invest RM24m for a 12-storey commercial building in Damansara Perdana as new headquarter has no material impact on the group’s operations, according to media. Chart-wise, the stock is approaching immediate support level @RM4.40-RM4.50 (50-day SMA and Fibonacci support) which could be buying opportunities for long-term investors as the overall uptrend remains intact. Meanwhile, a strict stop-loss is pegged at RM4.10-RM4.20 (long-term channel support) region. 

 

Source: Kenanga