RHB Retail Research
Technical Analysis - UMW
UMW was testing the MYR4.55 level in its latest session. A bullish bias may be present above this point with a target price of MYR4.85, followed by MYR5.15. The stock may consolidate further if it cannot breach the MYR4.55 threshold decisively in the coming sessions. Support may be found at MYR4.20, where traders can exit upon a breach to minimise the downside risk.
Source: RHB Securities Research - 18 Oct 2018
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