Wah Seong Corporation has rebounded from its low to test the immediate resistance level of RM1.42. Higher trading volume was recorded in the latest session. With the momentum indicator RSI above 50%, there is a possibility it will break above the resistance price and move towards the target prices of RM1.56 and RM1.62. The support is anticipated at RM1.30, whereby traders may exit on a breach to avoid the risk of a further consolidation.

Trading Call: Buy before breakout RM1.42
Target: RM1.56, RM1.62 (time frame: 3-6 weeks)
Exit: RM1.30

Source: AmInvest Research - 18 Feb 2020