Wong Engineering Corporation rose and is poised to test the RM0.735 resistance level. With its RSI indicator pointing upward, coupled with a higher high candle stick pattern, there is a good chance that it would experience a technical breakout and head towards the short-term target price of RM0.77, followed by RM0.80. The downside support is marked at RM0.68. Traders are advised to exit on a breach to avoid further losses.
Trading Call: Buy on breakout RM0.735
Target: RM0.77, RM0.80 (time frame: 2-4 weeks)
Exit: RM0.68
Source: AmInvest Research - 14 Feb 2022
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