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Stock Picks Of The Day: UUE And KJTS

Business Today ·  Dec 3 08:01
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UUE and KJTS are poised to continue their upward trends following strong bullish signals, according to RHB Investment Bank Bhd (RHB Research).

RHB Research noted that UUE displayed a bullish breakout by closing above the RM0.78 resistance level, accompanied by a fresh white candlestick. The 21-day SMA line's upward movement further reinforces the short-term bullish trend. The analyst predicts that the stock may climb towards RM0.83, with RM0.88 as the next target. However, falling below the RM0.735 support level would negate this bullish setup.

Similarly, KJTS has extended its bullish trajectory by surpassing the RM0.75 resistance level on strong trading volume. The analyst observed increasing volume alongside rising prices, indicating growing bullish momentum. The stock is expected to test the next resistance levels at RM0.80 and RM0.85. Conversely, breaching the RM0.70 support level could trigger a correction.

Both stocks show positive momentum, with upward trends supported by technical indicators and robust market activity. However, the house cautioned that support levels must be closely monitored to validate the bullish setups.

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Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
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