United U-Li Corporation is set to propel higher, as it broke above the MYR1.40 recent high on improved trading volume – printing a “higher high” bullish pattern. If the breakout sustains above that level, the bulls may drive the stock towards the next resistance level of MYR1.50, followed by MYR1.62. Conversely, falling below the immediate support of MYR1.32 may trigger the resumption of a downward correction – forming a “lower low” bearish pattern.

Source: RHB Securities Research - 17 Feb 2022