RHB Retail Research
Trading Stocks - UWC
UWC may rise higher after it breached above MYR1.44 threshold and left an upside gap. Given that it has formed a long white candle above the rising 21-day SMA line, this means that the bullish sentiment has been enhanced. A bullish bias may emerge above the MYR1.44 level, with an exit set below the MYR1.34 threshold. Towards the upside, the immediate resistance is at MYR1.60 level. This is followed by the MYR1.70 level.
Source: RHB Securities Research - 23 Aug 2019
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