WTK (4243)

WTK Group of companies business spans globally to destinations like Japan, Taiwan, South Korea, The People's Republic of China, India, Thailand, Pakistan, The United States of America, Indonesia, Papua New Guinea, Taiwan and Australia. To provide better clientele services to their domestic business associates, branch offices has been set up throughout Sarawak and Peninsular Malaysia with its head office in Sibu, Sarawak, Malaysia. WTk Group's role in the Sarawak, Malaysia forest industry has its roots dated back in the 1940s, when it was the pioneer swamp logging contractor. Since then, the group has grown to be one of the forest's industry leading players, owning and managing millions of hectares of timber concession around the world, with major processing and distribution facilities strategically located nearby. The Group is also well diversified into land development, trading, manufacturing, plantation, oil milling, hotel and travel service, to name a few.

WTK is one of the prime beneficiaries of the weak MYR/USD

WTK has been trading above its upward sloping 20-Day Moving Average which is a good sign. In addition, the price just broke the resistance of 1.05 reinforcing the bullishness in the recent price movement. This breakout was accompanied by a higher than average traded volume which shows the enthusiasm of the traders to push the price higher and past this resistance hence giving a higher probability of a successful breakout.

The shares has been trading between a 52-week range of 0.895 to 1.26 and the 1-week range of 1.01 to 1.06

Traders may buy above 1.06 with Stop Loss of 1.02. major resistance at 1.18.