UWC Bhd (5292)

• UWC advanced 9.6% or 13 sen to close at RM1.49 yesterday.
• UWC has seen a trend reversal after hitting a low of RM1.20 and has been moving higher coupled with yesterday’s bullish long white candle.
• With the improving technical indicators, we expect share price to re-test its all-time high at RM1.53 and bringing it to uncharted high with the bullish run.
• As such, support levels are identified at RM1.30 (S1) and RM1.16 (S2).

Source: Rakuten Research - 23 Aug 2019