UEM Sunrise is eyeing to extend its upside movement after breaking past the resistance. The counter has crossed over the 21-day SMA line and closed above the MYR0.95 resistance to confirm a bullish setup. The volume has been increasing with the share price, showing the bullish momentum is gaining traction. The positive momentum should propel the stock towards the next resistance at MYR1.02, followed by MYR1.10. Meanwhile, breaching below the MYR0.89 support resumes the bearish phase.

Source: RHB Securities Research - 20 Sept 2024