RHB Retail Research
Trading Stocks - UMW
UMW may trend higher after it tested the MYR5.60 support recently. This candle has sent the stock to its highest close in more than four months, thereby enhancing the positive sentiment. A bullish bias may appear above the MYR5.80 level, with an exit set below the MYR5.60 threshold. Towards the upside, the near-term resistance is at MYR6.50. This is followed by the MYR6.90 level.
Source: RHB Securities Research - 29 Jan 2019
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