CWG Holdings surged and touched the RM0.52 resistance level. With its 21-day moving average in an uptrend, coupled with a higher trading volume, we see a possibility for a technical breakout. If this happens, we expect it to move towards the short-term target prices of RM0.545 and RM0.57. The downside support is projected at RM0.47. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM0.52

Target: RM0.545, RM0.57 (time frame: 2-4 weeks)

Exit: RM0.47
 

Source: AmInvest Research - 10 Dec 2021