United U-Li Corporation has moved beyond its sideways consolidation phase after it broke past its immediate resistance of MYR1.28 on improved trading volume – printing a long bullish candlestick. If it manages to stay above this level, the bullish momentum will lift the stock towards the next resistance of MYR1.40, followed by MYR1.52. However, falling below the MYR1.20 support and forming a “lower low” pattern may see it drift to a lower level.

Source: RHB Securities Research - 1 Sept 2021