Uzma is on track to print a fresh 52-week high as it broke above the MYR0.77 level, on surging trading volume. Coupled with a “higher high” bullish pattern, the momentum is expected to propel the stock towards the MYR0.90 resistance, followed by the MYR1 mark. However, falling below the MYR0.71 support would indicate a downtrend, forming a “lower low” bearish pattern while trading below the 21-day SMA line.
Source: RHB Securities Research - 30 Aug 2023
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Created by rhbinvest | Aug 30, 2024