UUE is eyeing to extend the upside movement after staging a bullish breakout. Yesterday, the stock charted a fresh white candlestick and closed above the MYR0.78 resistance, showing the underlying momentum is bullish. Conversely, the 21-day SMA line is moving upwards, signalling that the short-term trend is bullish. After the breakout, the stock may climb towards MYR0.83,followed by the MYR0.88 level.On the contrary, falling below the MYR0.735 support will negate the bullish setup.

Source: RHB Securities Research - 3 Dec 2024