AmInvest Research Reports
Stocks on Radar - Wellcall Holdings (7231)
AmInvest
Publish date: Tue, 12 May 2020, 09:05 AM
AmInvest
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All materials published here are prepared by AmInvest. For latest offers on AmInvest trading products and news, please refer to: https://www.aminvest.com/eng/Pages/home.aspx
Tel: +603 2036 1800 / +603 2032 2888
Fax: +603 2031 5210
Email: enquiries@aminvest.com
Office Hours
Monday to Thursday: 8:45am – 5:45pm
Friday: 8:45am – 5:00pm
(GMT +08:00 Malaysia)
Wellcall Holdings may soon retest the resistance level RM0.88 again. With the RSI indicator trending above 60%, coupled with recent higher trading volume, we see that the bullish momentum is intact. A successful break above the resistance level may push it towards the next short-term target prices of RM0.92 and RM0.99. The downside support is anticipated at RM0.79, whereby traders may exit on a breach to avoid the risk of a further correction
Trading Call: Buy on breakout RM0.88
Target: RM0.92, RM0.99 (time frame: 2-4 weeks)
Exit: RM0.79
Source: AmInvest Research - 12 May 2020
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