Feb 19, 2013

Stock watch: UEM Land Holdings Bhd

UEM Land Holdings Bhd (stock code 5148) Properties – RM2.24

above: UEMLAND daily chart (click to enlarge) 

Chart wise:
UEM Land’s candles have remained above the long-term uptrend line. However, it has not veered much from its short-term range of between RM2.13 and RM2.32. Still, its momentum indicators continue to rise with both the stochastic and RSI tipping upwards.

The MACD is also rising after it crossed the trigger line and could still push the candles above the short-term top of RM2.32. If so, here are trading buy opportunities, but failure to penetrate leaves a neutral outlook. Above RM 2.32, the resistance is at RM2.35 and RM2.45. The support, meanwhile, is at RM2.12.

by Mercury Securities