RHB Retail Research
Technical Analysis - UEM Edgenta
UEM Edgenta
UEM Edgenta formed a long white candle, indicating that momentum of buying could be strong. In view that the 21-day SMA line is likely to begin turning upwards, this also implies a positive outlook. A bullish bias may emerge above the MYR2.60 level, with an exit set below the MYR2.40 threshold. Towards the upside, the immediate resistance is at MYR2.83. This is followed by the MYR3.00 level.
Source: RHB Securities Research - 12 Sept 2018
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