RHB Retail Research
Trading Stocks - UWC
UWC jumped with higher trading volume, breaking past the resistance level of MYR6.70. As the 21-day SMA line is trending higher, we believe it may lend strong support to the bullish momentum. From a technical perspective, the next resistance level should be at MYR7.10, followed by MYR7.40. Meanwhile, a downward breach of the MYR6.40 support should negate this expectation.
Source: RHB Securities Research - 23 Oct 2020
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