Yesterday, UNISEM advanced 5.5 sen to close at RM0.925. Note that the share price has now broken out of its RM0.86-RM0.90 congestion zone while the key momentum indicators showed signs of improvement following yesterday’s rally. In particular, the Stochastic and RSI indicators have turned upwards, while the MACD has just completed a positive crossover with the Signal line. All signals combined to indicate that the share price is now ready to retest the next strong resistance level at RM0.94. Should this key resistance level be taken out decisively, UNISEM would then have a clear path towards RM0.98 and RM1.09 (its all-time high resistance level) further up.

 

Source: Kenanga