Uzma Bhd (code: 7250) looks set to extend its rebound after two consecutive days of gains, which reflects a growing bullish momentum.Based on the dail price chart, the stock has been trapped in a descending trend since mid-March 2019.
The steep decline over five months has put the stock’s technical chart in a bearish formation and trading under the key simple moving averages (SMA).Over the short-term however, there may be upsides in store for the stock as investors turn to bargain-hunting following the most recent correction phase.