UMW should continue its upward climb after closing above the psychological RM8.00 level yesterday. Purchase can be made above the level with a close below the recent low of RM7.60 as stop-loss. The price target is RM9.20 with resistance also expected at RM8.60. The stock is likely to enter into a correction should the RM7.60 barrier be violated. Support is expected at RM7.10.
Source: OSK
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