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UMW is resuming its uptrend, says RHB Retail Research

2021-09-14T23:29:12+08:00September 14th, 2021|0 Comments
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KUALA LUMPUR (Sept 15): RHB Retail Research said UMW Holdings Bhd is resuming its uptrend after it broke away from the immediate resistance of RM3.29 on surging trading volume – forming a long white candlestick.

In a trading stocks note today, the research house said that coupled with a “higher high” bullish pattern, the bullish momentum above that level may propel the stock towards the next resistance of RM3.50, followed by RM3.60 – its 52-week high.

“However, this expectation will be cancelled if it falls below the RM3.16 support level,” it said.

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