UEM Edgenta Bhd

• EDGENTA ended 2.1% or 4 sen higher to RM1.95 yesterday.
• The stock is displaying a positive reversal as share price formed a higher lows structure and started to trend above both short term and midterm moving average lines.
• Besides, share price has recently broken above key resistance of RM1.90 level and with key moving average turning upward sloping, such price action could generate more buying interest, potentially pushing share price to higher level.
• As such, resistance levels are at RM2.08 (R1) and further to RM2.19 (R2).
• On the contrary, first resistance-turn-support level is at RM1.90 (S1) and next at RM1.80 (S2)

Source: Rakuten Research - 11 May 2021