UWC is eyeing a technical breakout as it tried to climb higher again towards the immediate resistance of MYR3.23. If it manages to breach above that level – forming a “higher high” bullish pattern – the stock may climb further towards the resistance level of MYR3.47 ie 20 Apr’s high, followed by MYR3.61 or the high of 14 Apr. If it falls below the support level of MYR3.00, the stock may move south, below the 21-day average line.

Source: RHB Securities Research - 24 Jun 2022