UMLAND Stock Code: 4561
United Malayan Land Berhad (UMLAND) is an investment holding company. The company, through its subsidiaries, operates in property investment and development. It also provides services in trading, project management, recreational clubs, and other related activities.
below: UMLand daily chart (click to enlarge)
Recommendation
UMLAND made a minor daily Wave 4 low at MYR1.50 (on 5 Apr 2012) with grossly oversold and bullish signals. Due to its positive chart signals, the indicators are pointing firmly upwards to a move towards its resistance and upside target areas in the short to medium term.
SHORT-TERM BUY (TECHNICAL) on dips for UMLAND, with very firm support areas at MYR1.90 and MYR2.18. The upside target areas are at MYR2.40 and MYR2.52, with stop loss at MYR1.88.
by Maybank IB
