UEM Sunrise is expected to extend its upward trajectory after breaking past a key resistance level, as cited by RHB Retail Research (RHB) in their report today.
The stock has crossed over the 21-day simple moving average (SMA) and closed above the MYR0.95 resistance, signalling a bullish setup. The increasing trading volume further reinforces the positive momentum.
Should this continue, UEM Sunrise is projected to target the next resistance levels at MYR1.02 and MYR1.10. However, a dip below the MYR0.89 support could signal a return to a bearish phase.
Similarly, Leong Hup International is positioned to maintain its bullish run after surpassing the MYR0.68 resistance on strong volume.
The stock's fresh "higher high" candlestick confirms the bullish technical setup. Moving forward, Leong Hup aims to test the MYR0.73 resistance, with the next target set at MYR0.77. Any decline below the MYR0.64 support, however, would invalidate the bullish outlook.
