UEMLand is possibly retesting the RM1.65 hurdle soon. After hitting a high of RM1.66 in Jun 2009, the share price of UEMLand corrected to a low of RM1.06, but it eventually stabilised within a sideways consolidation trend from RM1.15 to RM1.46
for most of the time. The stock rechallenged the RM1.46 level again in Apr 2010, but failed its first attempt. In Jun 2010, it finally surpassed the level convincingly and slowly built a base from RM1.46 to RM1.60 region. On last Friday, it closed with a positive candle at RM1.56, suggesting a likely follow-through buying support to retest the tough technical resistance of RM1.65 soon.
UEM Land Holdings Berhad : A Chance To Scale Higher To RM1.80… - 19/7/2010
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