RHB Retail Research
Trading Stocks - UWC
UWC is poised to breakaway the consolidation level of MYR5.80 as it attempted to breach that level on high volume. If a breakout happens above the resistance level – forming a “higher high” bullish pattern, the bulls may follow-through to drive it towards the MYR6.07 nearest resistance, followed by the MYR6.65 next resistance. Meanwhile, the stock may move downtrend if it falls below the MYR5.50 support – below the moving average line.
Source: RHB Securities Research - 20 Sept 2021
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