• Technical BUY with +19.8% potential return
• Last price: RM2.37
• Target price: RM2.61, RM2.84
• Support: RM2.17
• Stop-loss: RM2.16

BUY with a target price of RM2.84 and stop-loss at RM2.16. Yesterday, WELL managed to penetrate the breakout level of RM2.34 and closed higher at RM2.37. Positive readings in both the DMI and the MACD should translate into stronger momentum for the share price. This is supported by an uptick in the RSI. We expect the share price will continue the bullish movement towards our targets at RM2.61 and RM2.84 in the near to medium term.

Expected Timeframe: 2 weeks to 2 months

Source: UOB Kay Hian Research - 26 May 2017