RHB Retail Research
Technical Analysis - UMW
UMW may rebound further after it tested the MYR4.37 support in recent sessions. As the stock recently rose above the 21- day SMA line, this indicates a positive sign. A bullish bias may appear above the MYR4.86 level, with an exit set below the MYR4.37 threshold. Towards the upside, the near-term resistance is at MYR5.45. This is followed by the MYR5.85 level.
Source: RHB Securities Research - 21 Nov 2018
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