• Technical BUY on breakout with +36.0% potential return
• Last price: RM1.60
• Target price: RM2.03, RM2.19
• Support: RM1.48
• Stop-loss: RM1.47

BUY on breakout with a target price of RM2.19 and stop-loss at RM1.47. Based on the daily chart, WLW formed a series of higher highs and higher lows towards the all-time high of RM1.75. This is supported by the bullish crossover in the MACD and the DMI, suggesting buying momentum is set to continue in the near term. We peg our targets based on 1.38x and 1.61x Fibonacci extension levels at RM2.03 and RM2.19 in the medium term.

Expected Timeframe: 2 weeks to 3 months.

Source: UOB Kay Hian Research - 14 Jul 2017