The positive technical outlook of WCT is enhanced after inching above the MYR1.88 level, albeit marginally. The stock is also on a valid uptrend line that extends from May-16. Assuming the resistance at MYR1.98 can be breached, the target price is set at MYR2.03, followed by MYR2.15. In the scenario it pulls back to consolidate, support is anticipated at MYR1.73,whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy on valid general uptrend above MYR1.88 Target: MYR2.03, MYR2.15 (time frame: 2-3 months) Exit: MYR1.73

Source: AmInvestment Research - 8 Feb 2017