KUALA LUMPUR (March 29): RHB Retail Research said Unitrade Industries Bhd is set to climb higher after demonstrating a breakout on Wednesday, surpassing the 29.5 sen immediate resistance level.
In a trading stocks note on Friday, the research house said that if the breakout sustains, the stock may climb higher towards the 32 sen all-time high, before potentially hitting the 40 sen mark.
“On the contrary, a breach below the 27 sen support increases the risk of a downtrend reversal, as it falls beneath the 21-day simple moving average line,” it said.