UZMA gained 6.0 sen (+5.04%) to close at RM1.25 yesterday, on the back of stronger trading volumes with 1.7m shares exchanging hands - more than doubled its 20-day average.
Chart-wise, UZMA has been on an uptrend since early-June with yesterday’s move seeing the share break above RM1.20 prior resistance level, while also closing firmly above key SMAs.
Accompanied by positive displays from key indicators, we expect follow-through buying towards resistances at RM1.30 (R1) and RM1.40 (R2).
Conversely, immediate supports can be identified at RM1.20 (S1) and RM1.10 (S2).
REACH (Not Rated)
REACH rose 1.5 sen (+3.45%) to close at RM0.450, backed by explosive trading volume with 31.6m shares exchanging hand- more than doubled its 20-day average.
Trend line is highly bullish since end-August with yesterday’s close marked the breakout of RM0.440 prior resistance level.
Technical indicators appear in supportive for a bullish move with key SMAs in “Golden Crossover” as well as the MACD continuing its strong upward movement above signal-line.
Key resistance to look out for is RM0.485 (R1) with the next resistance level identified at RM0.550 (R2).
Immediate downside support can be found at the resistance-turned-support level RM0.440 (S1) and RM0.415 (S2) further down.
New IPO: The onshore and offshore support services provider for the O&G industry, Steel Hawk Bhd aims to list on the Ace Market!
MQ Trader 7113 views | 6 d ago
0:17
New IPO: The largest mini-market player and a leading groceries retailer in Malaysia, 99 Speed Mart Retail Holdings Bhd aims to list on the Main Market!
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....