UWC Bhd (5292)

• UWC closed 6 sen or 3.0% higher to RM2.07 yesterday.

• Share price continues to climb higher with yesterday’s close with share price hitting all-time-high at RM2.09 and remains on a bullish up-cycle trend. • The bullish breakout with strong buying momentum coupled and positive technical indicator signals may see share price charting new highs possibly testing the RM2.20 level.

• From here, resistance levels are expected at RM2.15 (R1) and RM2.30 (R2).

• On The contrary, downside support levels are identified at RM1.65 (S1) and RM1.50 (S2).

Source: Rakuten Research - 25 Oct 2019