• Technical BUY with +20.2% potential return
• Last price: RM1.14
• Target price: RM1.29, RM1.37
• Support: RM1.06
• Stop-loss: RM1.04

BUY with a target price of RM1.37 and stop-loss at RM1.04. A successful closing above the BBI line on yesterday’s movement suggests improving sentiment as WENG looks set to resume the upward movement. This is supported by an uptick in the RSI. The DMI and MACD are showing a bullish crossover, which will support the upward momentum. We expect WENG to continue the upward movement to the immediate resistance of RM1.31 and our target at RM1.37

Expected Timeframe: 2 weeks to 2 months

Source: UOB Kay Hian Research - 13 Sept 2017