UWC Bhd (5292)

• UWC closed 5.9% or 57 sen higher to RM10.16 yesterday.

• Share price is intact with its bullish uptrend and hit another new high yesterday supported by positive signal from indicators. We expect the positive momentum to continue, which could likely to challenge its new high.

• As such, resistance levels are seen at RM10.43 (R1) and RM10.69 (R2) level.

• Conversely, support levels are set at RM9.36 (S1) and RM8.31 (S2).

Source: Rakuten Research - 22 Dec 2020