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PublicInvest Research

Author: PublicInvest   |   Latest post: Fri, 15 Jan 2021, 10:38 AM

An official blog in I3investor to publish research reports provided by PublicInvest Research team.

All materials published here are prepared by Public Investment Bank Berhad. For latest offers on Public Invest trading products and news, please refer to: https://www.publicinvestbank.com.my/pbswecos/default.asp

PUBLIC INVESTMENT BANK BERHAD (20027-W)
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Technical Buy - WIDAD (0162)

Author:   |    Publish date:

  • Target Price: RM0.570, RM0.590
  • Last closing price: RM0.535
  • Potential return: 6.5%, 10.2%
  • Support: RM0.530
  • Stop Loss: RM0.515

Possible for sideways breakout. WIDAD is staging a potential breakout from its sideways channel. Improving MACD indicators currently signal reasonable entry level, with anticipation of continuous improvement in both momentum and trend in near term. Should resistance level of RM0.545 be broken, it may continue to lift price higher to subsequent resistance levels of RM0.570 and RM0.590.

However, failure to hold on to support level of RM0.530 may indicate weakness in the share price and hence, a cut-loss signal.

Source: PublicInvest Research - 21 Feb 2020

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Labels: WIDAD

Related Stocks

Chart Stock Name Last Change Volume 
WIDAD 0.61 +0.005 (0.83%) 32,416,400 

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