UWC Bhd (UWC, 5292)

• Share price closed 4.2% higher at RM4.95 on Thursday.

• UWC is rebounding from its 52-week low and closed above its MA20 yesterday. We also noticed a MACD bullish crossover indicating potential continuation of the rebound.

• Backed by upticks in its indicators plus a trend reversal, UWC is poised to move higher.

• Resistance levels are identified at RM5.39 (R1) and RM5.60 (R2).

• On the flipside, support levels are pegged at RM4.76 (S1) and RM4.49 (S2).

Source: Rakuten Research - 11 Feb 2022