Stock Picks Of The Day – UEM Sunrise, Unitrade Industries

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.

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