Rakuten Trade Research Reports

Technical View - UCHI Technologies Bhd

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Publish date: Wed, 03 Feb 2021, 06:24 PM
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UCHI Technologies Bhd (7100)

• UCHITEC rose 4.1% or 11 sen to RM2.80 yesterday.

• Share price formed a positive breakout yesterday on the back of higher trading volume following a period of consolidation phase. Meanwhile, the upward strength remains intact with the share price trading above all moving average lines and should the buying momentum persist, share price may move higher.

• As such, resistance levels are projected at RM2.94 (R1) and further to RM3.07 (R2).

• On the downside, support levels are set at RM2.62 (S1) and RM2.45 (S2).

Source: Rakuten Research - 3 Feb 2021

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