United Plantations is posing a bullish technical setup after climbing above the resistance on high volume. Yesterday, the stock printed a bullish candlestick and closed above the MYR26.22 resistance. The volume has been increasing in tandem with the share price, showing bullish momentum is gaining pace. Riding on the momentum, the stock may test MYR27.50, followed by MYR29. In the event it falls below the MYR25 support, it will enter a correction phase.

Source: RHB Securities Research - 6 Sept 2024