Stock Picks Of the day – Uzma, Insas

Uzma is poised for a technical rebound, as it tested the immediate resistance of MYR0.65 yesterday, above the 21-day SMA line.

RHB Retail Research said today (May 30), if the breakout happens, expect strong momentum to emerge, extending the upside towards MYR0.70, followed by MYR0.75.

On the other hand, breaching below the MYR0.62 support will nullify the expectation.

Insas is eyeing a resumption of its uptrend as it bounced off the immediate support to reclaiming a spot above the 21-day SMA line, while heading towards the MYR0.85 immediate resistance.

If it breaches that point, the bullish bias should drive the stock towards the MYR0.90 resistance, followed by the psychological cap of MYR1.

Towards the downside, falling below the MYR0.81 support will negate the bullish structure.

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