Stock Picks Of The Day – Censof Holdings, UEM Sunrise

Censof Holdings is set to resume its uptrend after experiencing a technical breakout above the immediate resistance level at MYR0.315 on improved volume.

The bullish momentum is likely to persist, driving the counter towards the recent high of MYR0.34, followed by the next resistance level at MYR0.38.

However, a fall below the MYR0.285 support level would negate the bullish setup, as the counter would then be trading below the 21-day SMA line.

UEM Sunrise is set to climb higher after rebounding strongly to reclaim the 21-day SMA line, and breaking above the MYR1.17 resistance level yesterday with strong trading volume.

If the breakout sustains, the bullish momentum may propel the stock towards the historical high at the MYR1.28 resistance, followed by the next resistance level at MYR1.36.

However, a fall below the MYR1.12 support level would reverse the momentum, as the counter would be trading below the SMA line.

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