KUALA LUMPUR (Dec 8): RHB Retail Research said Uchi Technologies Bhd is poised for an uptrend reversal after it bounced off the 21-day average line while hitting the immediate resistance of RM3.20, before retracing mildly beneath that level.

In a trading stocks note on Wednesday (Dec 8), the research house said if a breakout happens, the bullish momentum is expected to continue towards the next resistance level at RM3.30, followed by RM3.55.

“Conversely, falling below the RM3.07 support will cancel this expectation,” it said.