UWC may climb higher, says RHB Retail Research

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KUALA LUMPUR (Oct 18): RHB Retail Research said UWC Bhd may climb higher after forming a long white candle and hitting its new 52-week high.

In a trading stocks note today, the research house said in view that the 21-day SMA line is likely to begin turning upwards, this implies a bullish outlook sentiment.

“A bullish bias may emerge above the RM1.71 level, with an exit set below the RM1.60 threshold.

“Towards the upside, the immediate resistance is at RM1.90. This is followed by the RM2.00 level,” it said.