Widad Group consolidated and is poised to touch the RM0.385 resistance level. With its 21-day moving average in an uptrend, coupled with a higher trading volume, there is a good chance that it would experience a technical breakout and head towards the short-term target price of RM0.40, followed by RM0.41. The downside support is marked at RM0.36. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM0.385

Target: RM0.40, RM0.41 (time frame: 2-4 weeks)

Exit: RM0.36
 

Source: AmInvest Research - 26 Jan 2022