RHB Investment Bank Bhd (RHB Research) has identified UUE Holdings Bhd and YBS International Bhd as its latest technical trading ideas, citing improving momentum and potential breakout opportunities for both counters.
According to the research house, UUE appears poised to extend its gains after breaking above the RM0.43 resistance level on strong trading volume, signalling that bullish momentum remains intact.
The stock recently surged past the key resistance level, with RHB Research expecting follow-through buying to push the counter towards the next resistance at RM0.46 and subsequently RM0.49.
However, it noted that a decline below the RM0.395 support level would invalidate the bullish setup and could trigger a resumption of the downtrend.
Meanwhile, YBS International is approaching a potential upside breakout after forming a bullish candlestick pattern while consolidating below the RM0.295 resistance level.
RHB Research said a successful breakout above that level would improve market sentiment and could pave the way for the stock to advance towards RM0.32, followed by RM0.34.
The research house added that a breach of the RM0.265 support level would signal weakening momentum and potentially restart the stock’s downward movement.
