UUE is eyeing to extend the bullish trajectory after staging a bullish breakout on high volume. The stock has charted a white candlestick and closed above the MYR0.83 resistance, showing a strong bullish momentum is in play. We observed the trading volume increasing in tandem with share price, showing the underlying momentum is bullish. Riding on this bullish momentum, the counter should travel towards MYR0.88, followed by the MYR0.93 mark. Conversely, falling below the MYR0.78 support will kickstart the correction phase.

Source: RHB Securities Research - 13 Dec 2024