UMW has made a new high again

UMW has just made a new high of RM12.20, after breaking to the upside of the flag formation, which has contained the share price for the past 2 months (see Chart 1 below). The breakout level is at RM12.00.


Chart 1: UMW's daily chart as at May 31 (courtesy of Quickcharts)

We can also see a similar bullish breakout in UMW-CA, at the RM1.15 level. This CW has an exercise price of RM9.60; exercise ratio of 2:1; & expiring on November 13. As at 4.15 pm, the CW was at RM1.30 (see Chart 2 below).


Chart 2: UMW-CA's daily chart as at May 31 (courtesy of Quickcharts)

With these breakouts, I believe UMW & UMW-CA could be a good Trading Buy. Remember to set your Sell Stops at the respective breakout level.

This is strictly a technical call without any consideration of the company's financial performance & position.