Wah Seong Coroporation pulled back and tested the RM0.68 support level. With its 21-day moving average indicator in an uptrend, coupled with a higher high candle stick pattern, we see a possibility for a technical rebound. If this happens, we expect it to move towards the short-term target prices of RM0.715 and RM0.74. The downside support is projected at RM0.62. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on correction RM0.68

Target: RM0.715, RM0.74 (time frame: 2-4 weeks)

Exit: RM0.62
 

Source: AmInvest Research - 5 Oct 2021