UOB Kay Hian Research Articles
Traders' Corner : Weida (M) (WEI MK)
UOBKayHian
Publish date: Mon, 10 Jul 2017, 04:42 PM
UOBKayHian
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An official blog in I3investor to publish research reports provided by UOB Kay Hian research team.
All materials published here are prepared by UOB Kay Hian. For latest offers on UOB Kay Hian trading products and news, please refer to: http://www.utrade.com.my
UOB Kay Hian Securities (M) Sdn Bhd (194990-K)
Hotline:
1800 UTRADE /
1800 88 7233 (Securities)
+6088 235611 (Futures)
Email: contact@utrade.com.my
All materials published here are prepared by UOB Kay Hian. For latest offers on UOB Kay Hian trading products and news, please refer to: http://www.utrade.com.my
UOB Kay Hian Securities (M) Sdn Bhd (194990-K)
Hotline:
1800 UTRADE /
1800 88 7233 (Securities)
+6088 235611 (Futures)
Email: contact@utrade.com.my
- Technical BUY with +10.1% potential return
- Last price: RM1.99
- Target price: RM2.14, RM2.19
- Support: RM1.90
- Stop-loss: RM1.89
BUY with a target price of RM2.19 and stop-loss at RM1.89. Based on the daily chart, WEI formed a series of higher highs and higher lows that indicate an uptrend. This bullish move was supported by the DMI’s bullish crossover and the uptick in the RSI, which suggests stronger buying momentum ahead. Currently, the MACD is on a bullish crossover mode. We peg our targets at RM2.14 and RM2.19 in the near to medium term.
Expected Timeframe: 2 weeks to 2 months
Source: UOB Kay Hian Research - 10 Jul 2017
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