RHB Retail Research
Trading Stocks - UWC
UWC may trend higher after forming a long white candle and hitting its new 52-week high. In view that the 21-day SMA line is likely to begin turning upwards, this implies a positive outlook sentiment. A bullish bias may emerge above the MYR1.52 level, with an exit set below the MYR1.41 threshold. Towards the upside, the immediate resistance is at MYR1.65 level. This is followed by the MYR1.70 threshold.
Source: RHB Securities Research - 6 Sept 2019
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