UWC is eyeing to propel upwards as it attempted to surpass its consolidation level of MYR4.13 yesterday – above the 21-day SMA line. If the breakout happens, the bullish bias above that level may bring the counter higher towards MYR4.79 or 16 Feb’s high. This is followed by MYR5.07, ie 10 Feb’s high. If it falls below the MYR3.78 support, the momentum may reverse direction, as it forms a “lower low” bearish pattern below the average line.

Source: RHB Securities Research - 9 Sept 2022