UUE is eyeing a bullish breakout after bouncing off the strong support level. The stock printed a bullish candlestick yesterday, showing that bullish momentum is gaining traction. If it climbs above the MYR0.70 resistance level, a bullish setup will be confirmed. In this scenario, the stock may extend its upside movement towards MYR0.75, followed by MYR0.80. However, a fall below the MYR0.63 support level would resume the correction phase.

Source: RHB Securities Research - 3 Sept 2024