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PublicInvest Research

Author: PublicInvest   |   Latest post: Wed, 21 Apr 2021, 10:46 AM

 

Technical Buy - WASEONG (5142)

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  • Target Price: RM0.800, RM0.835
  • Last closing price: RM0.750
  • Potential return: 6.6%, 11.3%
  • Support: RM0.715
  • Stop Loss: RM0.690

Possible for sideways breakout. WASEONG is staging a potential breakout from its sideways channel. Corresponding RSI and MACD indicators remain healthy while trending sideways, with anticipation of continuous improvement in both momentum and trend in the near term. Should immediate resistance level of RM0.785 be broken with renewed buying interest, it may continue to lift price higher to subsequent resistance levels of RM0.800 and RM0.835.

However, failure to hold on to support level of RM0.715 may indicate weakness in the share price and hence, a cut-loss signal.

Source: PublicInvest Research - 2 Mar 2021

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Labels: WASEONG

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Chart Stock Name Last Change Volume 
WASEONG 0.82 -0.01 (1.20%) 381,500 

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