Wong Engineering Corporation continued rising and touched the RM0.90 resistance level. With its 21-day moving average indicator pointing upwards, coupled with higher trading volume, there is a good chance that it would experience a technical breakout and head towards the short-term target price of RM0.94, followed by RM0.96. The downside support is marked at RM0.845. Traders are advised to exit on a breach to avoid further losses.
Trading Call: Buy on breakout RM0.90
Target: RM0.94, RM0.96 (time frame: 2–4 weeks)
Exit: RM0.845
Source: AmInvest Research - 28 Apr 2021
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Created by AmInvest | Jul 26, 2024