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.
The research house said that riding above the rising 21-day simple moving average line, the stock is likely to climb higher towards RM1.
Broadly, however, shopping traffic in 4Q2023 was flat when compared to 4Q2022, RGM said KUALA LUMPUR (March 11): Malaysia’s retail sales may rebound in the first quarter of 2024 (1Q2024), after unexpectedly shrinking 0.
The strong profit growth was driven by higher contributions from all its operating segments, namely the property investment of commercial and retail, property development and hotel businesses.
The research house said that the bullish bias above that level may see the stock climb towards the 38 sen immediate resistance, followed by its recent high of 39.
“There are no liquidated damages or penalties that the company needs to compensate [concerning the SPA with ALX Asset].
In a trading stocks note on Friday, the research house said that if a breakout above that level happens, the stock may trend upwards further towards 58 sen, followed by the next resistance point of 62 sen, which is also the 4-month high.
The research house said that if the breakout is sustained, the uptrend rebound will likely lead to the stock climbing towards the immediate resistance of 33.
In a trading stocks note on Monday, the research house said the stock broke past the 54 sen resistance as the bullish momentum is picking up.
The research house said that if a breakout occurs, the stock will likely advance towards the 52-week high level at the 29 sen resistance, followed by 35.
The research house said that if it manages to surpass that level, the bullish momentum is expected to propel the stock towards the 73.