KUALA LUMPUR (Dec 9): RHB Retail Research said UMediC Group Bhd is in the midst of consolidating sideways between 69.5 sen and 74 sen amid the uptrend reversal posture above the 21-day average line.

In a trading stocks note today, the research house said that if the stock rebounds and breaches the resistance of 74 sen, the bullish momentum may accelerate to propel the stock northwards towards the 80 sen mark.

“This is then followed by the next resistance of 88.5 sen, or Sept 28’s high.