Thursday 28 Mar 2024
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KUALA LUMPUR (Oct 18): Shares in Uzma Bhd rose 2.26% at mid-morning today following a positive technical outlook on the stock.

At 10.20am, Uzma rose 3 sen to RM1.36 with 46,700 shares traded.

PublicInvest Research said Uzma is riding on its uptrend.

In a trading ideas note today, the research house said improving RSI and MACD indicators currently signal reasonable entry level, with anticipation of continuous improvement in both momentum and trend in near term.

"Should resistance level of RM1.40 be broken, it may continue to lift price higher to subsequent resistance level of RM1.50.

"However, failure to hold on to support level of RM1.25 may indicate weakness in the share price and hence, a cut-loss signal," it said.

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