UWC Bhd (5292)
• UWC closed 11 sen or 3.8% higher to RM2.98 yesterday.• Chart-wise, share price has been on bullish trend since listing and yesterday’s breakout saw it reach intra-day high of RM3.00. The upcycle trend remains intact and expect follow through buying momentum to continue and head towards the RM3.30 level.
• As such, resistance levels are expected at RM3.00 (R1) and further to RM3.20 (R2).
• On the flipside, downside support levels can be seen at RM2.75 (S1) and RM2.50 (S2).
Source: Rakuten Research - 24 Dec 2019
