UEM Sunrise active, up 9.20% on positive technicals

-A +A

KUALA LUMPUR (April 11): Shares in UEM Sunrise Bhd rose 9.20% in active trade this morning following a positive technical outlook of the stock.

At 9.25am, UEM Sunrise rose 8 sen to 95 sen with 13.44 million shares traded.

RHB Retail Research said UEM Sunrise may rebound higher after it continued holding above the 80 sen support.

In a trading stocks note today, the research house said as the stock rose above the 21-day SMA line, this indicates a positive sign.

“A bullish bias may emerge above the 85 sen level, with an exit set below the 80 sen threshold.

“Towards the upside, the immediate resistance is at 92 sen. This is followed by the 99 sen level,” it said.