UWC is eyeing to extend the bullish trajectory after breaking past the resistance. The counter has closed above the MYR2.80 resistance with a white candlestick – confirming the technical setup is bullish. After the breakout, we expect a follow-through price action to test the MYR3 mark,followed by higher resistance at the MYR3.30 level. On the flipside, falling below the MYR2.64 support invalidates the bullish setup and opens the door for a correction phase.

Source: RHB Securities Research - 18 Dec 2024