UMW’s rally should continue if it closes above the psychological RM10.00. A position can be initiated if it happens, with a close below the recent low of RM9.40 employed as a stop-loss. The price target is RM11.50, with selling also expected at RM11.00. Failure to break higher could see the stock trending lower. Supports are at RM8.80 and RM8.50.
Source: OSK
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