RHB Retail Research
Trading Stocks - UWC
UWC is poised for a technical breakout, as it bounced off strongly and could reach the consolidation phase level of MYR6.25, supported by surging trading volume. If the breakout happens above that level, the bullish momentum may propel the stock towards the nearest resistance of MYR6.65, then the MYR7.35 historical high. That said, this expectation will be nullified if it falls below the support level of MYR5.95.
Source: RHB Securities Research - 29 Oct 2021
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