UEMS (5148) - PropertyUEMS - Current price : RM1.08
Fundamentally broker house RHB Investment BHD give a target price of RM1.60 (19 OCT 2024 reports). The research house expect demand for property will continue to be driven by :
i) Better economic growth outlook,
ii) Influx of foreign and domestic direct investments
iii) Return of tourist arrivals
iv) Easing of the Malaysia Second Home programme
v) Major instructure developments
Technically there is a Falling Window (Gap Down) on 01 Aug 2024. As such, it may acts as a strong resistance. A breakout above that Falling Window resistance level RM1.10, may propel the share price towards RM1.20 and RM1.28 (52 Weeks High).
Based on ICHIMOKU, price manage to trend higher above CLOUD and CHIKOU LINE crosses up the cloud. This two scenario added more the BULLISHNESS outlook for the stock.
Lets monitor closely !
A breakout above RM1.10 , will trigger a buy signal.
Entry price at RM1.11 and our support will be EMA 50.
