UEMLand- may have a bullish breakout

UEMLand broke above the intermediate downtrend line at RM2.40 this morning. With this breakout, UEMLand could be a trading BUY. Immediate resistance at RM2.60 & then at RM2.80-2.90.

You have to exercise careful discretion in your trading as the market will enter into a lull next week due to the short trading period. Due to smaller participation in the market during the festive season, you can expect higher volatility.


Chart: UEMLand's daily chart as at Dec 23, 2011_9.20am (Source: Quickcharts)