Saturday 26 Oct 2024
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KUALA LUMPUR (Jan 8): Rakuten Trade said that buying interest for Uzma Bhd may have returned following a breakout from the three-month triangle pattern with a long white candle last Friday.

In a technical view note on Monday, the research house said that in view of the 20-day and 50-day exponential moving averages converging and likely to confirm its bullish crossover soon, it may see additional strength in the coming sessions.

“We expect the rising momentum is set to steer the stock higher and test the next level of resistance of 87 sen (R1) and 90 sen (R2) in the near term.

“On the downside, stop-loss is set at 71 sen,” it said.

 

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