WTK Holdings climbed higher to test the RM0.445 resistance level. With the RSI indicator pointing upwards, coupled with high trading volume, we believe that there could be a technical breakout above the resistance level. If this happens, it will travels towards the short-term target prices of RM0.465 followed by RM0.49. In this case, the downside support is marked at RM0.41, whereby traders may exit on a breach to avoid the risk of a further correction
Trading Call: Buy on breakout RM0.445
Target: RM0.465, RM0.49 (time frame: 2-4 weeks)
Exit: RM0.41
Source: AmInvest Research - 16 Jul 2020
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