RHB Retail Research
Technical Analysis - UMW
UMW may rebound further after it tested MYR4.20 support in recent sessions. Yesterday’s candle sent the stock to its 1- week high, thereby enhancing the bullish sentiment. A bullish bias may appear above the MYR4.53 level, with an exit set below the MYR4.20 threshold. Towards the upside, the nearterm resistance is at MYR5.00. This is followed by the MYR5.46 level.
Source: RHB Securities Research - 23 Oct 2018
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