Umedic Group is set to rise towards the YTD high, after resuming its uptrend above the previous breakout level of MYR0.785, on surging trading volume. The bullish bias above the 21-day SMA line could push the stock towards the YTD high of MYR0.90, which was Apr’s high. The next resistance is at the MYR1 mark. However, falling below the MYR0.75 support would indicate a downtrend, with a “lower low” bearish pattern being formed, while the stock trades below the SMA line.

Source: RHB Securities Research - 13 Sept 2023