RHB Retail Research
Trading Stocks - UMW
UMW may rebound higher after it continued holding above the MYR4.32 support. Given that it has formed a positive candle for the second consecutive day, the positive sentiment has been enhanced. A positive bias may emerge above the MYR4.50 level, with an exit set below the MYR4.32 threshold. Towards the upside, the immediate resistance is at the MYR4.80 mark. This is followed by the MYR5.00 level.
Source: RHB Securities Research - 26 Nov 2019
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