UEM Sunrise set for uptrend continuation, says RHB Retail Research

• The research house said that riding above the rising 21-day simple moving average line, the stock is likely to climb higher towards RM1.32, ie the seven-year high, followed by the RM1.65 next resistance.

KUALA LUMPUR (March 29): RHB Retail Research said UEM Sunrise Bhd is set for an uptrend continuation after breaching above the RM1.18 immediate resistance on stronger trading volume.

In a trading stocks note on Friday, the research house said that riding above the rising 21-day simple moving average line, the stock is likely to climb higher towards RM1.32, ie the seven-year high, followed by the RM1.65 next resistance.

“However, a fall below RM1.13 invalidates the bullish bias,” it said.

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