• Share price closed 8.5% higher at RM3.44 on Friday.
• UWC has formed a White Marubozu last Friday and started to close above both of its MA20 & MA50 signalling potential reversal from its downtrend movement.
• Backed by upticks in its indicators and strong buying momentum, we believe its share price is expected to move higher.
• Resistance levels are identified at RM3.80 (R1) and RM4.14 (R2).
• On the flipside, support levels are pegged at RM3.18 (S1) and RM2.70 (S2).
Source: Rakuten Research - 1 Jul 2022
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