RHB Retail Research
Trading Stocks - UWC
UWC extended its recent rebound after breaching the immediate resistance of MYR5.73 yesterday and forming a bullish “long white candlestick”. Coupled with the “higher low” bullish pattern, the bullish momentum should propel the stock towards the next resistance at MYR6.25, and subsequently, MYR6.65. Meanwhile, falling below the MYR5.60 support level may see the stock move downwards.
Source: RHB Securities Research - 29 Jul 2021
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