Possible for sideways breakout. WELLS is potentially staging a breakout fromits sideways channel, with anticipation of continuous improvement in bothmomentum and trend in the near term. Should immediate resistance level ofRM0.750 be broken with renewed buying interest, it may continue to lift pricehigher to subsequent resistance level of RM0.800.
However, failure to hold on to support level of RM0.690 may indicate weakness in the share price and hence, a cut-loss signal.
Source: PublicInvest Research - 11 Oct 2023
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