RHB Retail Research
Technical Analysis - UEM Sunrise
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UEM Sunrise may climb higher after it formed a second consecutive long white candle. In view that the 21-day SMA line will likely begin turning upward, this also suggests a likelihood of increased demand in the near term. A bullish bias may emerge above the MYR0.80 level, with an exit set below the MYR0.69 threshold. Towards the upside, the immediate resistance is at MYR0.89. This is followed by the MYR1.02 level.
Source: RHB Securities Research - 20 Jul 2018
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