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KUALA LUMPUR: Shares in UMS Holdings Bhd fell over 5% in early trade Tuesday after it slipped into the red in the third quarter ended June 30 (3Q21).
The industrial equipment distributor fell 5.51%, or 15 sen to RM2.57 at 9.31am. It has risen some 47% so far this year.
UMS posted a net loss of RM696,000 in 3Q21 against a net profit of RM3.38mil in the preceding quarter.
Its net loss was narrower compared with the RM1.21mil net loss posted in the same quarter a year ago.
Revenue for the quarter rose 45.3% to RM13.94mil against RM9.59mil posted a year earlier.
For the first nine months to June 30, UMS posted a net profit of RM4.1mil on revenue of RM49.5mil.
Mercury Securities in its technical watch said the counter’s potential upside was supported by a healthy RSI above the 50 level, trading above the MA20, and a bullish marubozu.
“Upward momentum has yet to slow down, expect EMA and SMA to hold, lower volatility moving forward,” it said.