Widad Group is consolidating below the RM0.56 resistance level. With higher trading volume sighted, coupled with a bullish white candle stick pattern, we think that there could be a technical breakout towards the shortterm target price of RM0.58 followed by RM0.61. In this case, the downside support is marked at RM0.52, whereby traders may exit on a breach to avoid the risk of a further correction

Trading Call: Buy on breakout RM0.56

Target: RM0.58, RM0.61 (time frame: 2-4 weeks)

Exit: RM0.52

Source: AmInvest Research - 21 Sept 2020