United U-LI Corporation is eyeing to extend the upside movement, testing the immediate resistance. After a strong rally, the stock is moving sideways for consolidation. If the stock breaks past the MYR1.83 resistance, bullish bias will emerge. In this case, the stock would resume the upward movement towards MYR1.95, followed by MYR2.10. On the other hand, breaching below the MYR1.66 support will kick off the correction phase.

Source: RHB Securities Research - 2 Nov 2023