UNISEM share price rose 3% or 5 sen to RM1.72 yesterday, with the closing price being observed breaking out from the resistance level of RM1.70 while also distancing further from all its SMA trend lines to form an uptrend movement. Meanwhile, positive buying momentum was evidenced by Stochastics and RSI indicators, both moving north with Stochastics surging beyond the overbought region. However, the MACD indicator was less indicative or neutral with flattish movement. Should the buying interests continue, we expect the share price to retest the RM1.90 (R1) level.

 

 

Source: Kenanga