Uzma set to resume uptrend, says RHB Retail Research

TheEdge Fri, Oct 15, 2021 07:08am - 2 years View Original


KUALA LUMPUR (Oct 15): RHB Retail Research said Uzma Bhd is set to resume its uptrend as it bounced off the recent resistance-turned-support level of 67 sen yesterday, thereby maintaining its “higher high” and “higher low” bullish structure.

In a trading stocks note today, the research house said if the momentum is sustained above that level, the bulls should drive the stock towards the threshold of 74 sen, before possibly hitting 76 sen.

“That said, this expectation will be cancelled if it falls below the support of 63.5 sen,” it said.

 

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