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PublicInvest Research

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

 

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

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

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