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Stock Picks: UEM Sunrise And GDB

Business Today ·  Dec 30, 2024 23:49

UEM Sunrise is set to sustain its bullish trajectory after surpassing the RM1.02 resistance level on high trading volume. The stock formed a strong white candlestick in its latest session, signalling robust upward momentum.

Following this breakout, RHB Investment Bank Bhd (RHB Research) anticipates the stock to target RM1.10 as the next resistance level, with a potential climb to RM1.20. However, a breach below the RM0.95 support level could dampen market sentiment and trigger a correction.

GDB is also eyeing further upside movement after achieving a bullish breakout. The counter closed above the RM0.355 resistance, affirming a bullish setup. The upward slope of the 21-day SMA line further supports this positive trend.

With this momentum, RHB Research expects GDB to test RM0.38 next, with a possible extension to RM0.41. Conversely, a drop below RM0.33 would invalidate the bullish outlook.

The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.
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