UEM Sunrise is set for an uptrend continuation after breaching above the MYR1.18 immediate resistance on stronger trading volume.
RHB Retail Research in a note today (Mar 29) said riding above the rising 21-day SMA line, the stock is likely to climb higher towards MYR1.32, ie the 7-year high, followed by the MYR1.65 next resistance.
However, a fall below MYR1.13 invalidates the bullish bias.
Unitrade Industries is set to climb higher after demonstrating a breakout on Wednesday, surpassing the MYR0.295 immediate resistance level.
If the breakout sustains, the stock may climb higher towards the MYR0.32 all-time high, before potentially hitting the MYR0.40 mark.
On the contrary, a breach below the MYR0.27 support increases the risk of a downtrend reversal, as it falls beneath the 21-day SMA line.
