Uzma Bhd (UZMA, 7250)
• Share price closed 4.2% higher at RM0.495 on Friday.
• UZMA has broken out from its consolidation phase with higher volume last Friday. Since then, its share price is also trading above its MA20 & MA50. It has also started to form a positive histogram in its MACD indicator.
• Coupled with upticks in its indicators, its share price is expected to move higher if buying momentum persist.
• Resistance levels are identified at RM0.555 (R1) and RM0.640 (R2).
• On the flipside, support levels are pegged at RM0.480 (S1) and RM0.450 (S2).
Source: Rakuten Research - 9 May 2022
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