RHB Retail Research
Trading Stocks - UMW
UMW was testing the MYR5.83 level in its latest session. A bullish bias may be present above this point with a target price of MYR6.08, followed by MYR6.50. The stock may turn sideways if it cannot breach above the MYR5.83 threshold decisively in the coming sessions. Support may be found at MYR5.30, where traders can exit upon a breach to minimise the downside risk.
Source: RHB Securities Research - 17 Jan 2019
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