Joshs Finance

Technical indicators encouraging for Unisem, says JF Apex – The Edge Markets MY

KUALA LUMPUR (July 29): JF Apex Securities Bhd said Unisem (M) Bhd gained 23 sen to RM2.76 on Thursday to break the 100-day moving average at RM2.70.

In a Technical Stock Pick on Friday (July 29), the research house said the gain on the previous day broke the downtrend from RM4.64 in February 2021.

“Technical indicators are encouraging as the RSI (reading at 69) is rushing towards the overbought zone, while the MACD is trending above its signal line in the positive region.

“For the downside, if the price falls lower, the first stop-loss level stands at RM2.50, marked by its 50-day moving average,” it said.

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