Wellcall Holdings may trend higher after it surged to a new multi-year high and closed above the RM1.75 resistance yesterday. Given that this candle has broken out from a 2-week bullish rectangle pattern, the resumption of its previous uptrend may be taking place now. A bullish bias may emerge above the RM1.75 level, with stop-loss set at RM1.65, below the 50-day EMA. Towards the upside, near-term resistance level is seen at RM2.00, followed by RM2.10.

Entry : RM1.75–1.85

Target : RM2.00, RM2.10

Exit : RM1.65

Source: AmInvest Research - 9 Feb 2024