On 20 Feb 2012, we advised traders to accumulate Winsun'sshares after the stock violated the RM0.105-RM0.13 consolidation range.Subsequently on 5 March 2012, its share price had climbed to as high as RM0.20, which is just a whisker away from ourRM0.21 target. Nevertheless, the stock violated its steep uptrend the next day,which was then followed by a sharp retracement. Coincidentally, Winsun's shareprice has started to consolidate at around the previous consolidation  range of RM0.105-RM0.13  and thispresents another trading opportunity. Traders are advised to accumulate sharesat prices within the current consolidation range of RM0.11-RM0.135. The upsidetarget is pegged at the RM0.18 level this time, with the cut-loss level at theRM0.11 support floor.

On 20 Feb 2012, we advised traders to accumulate Winsun'sshares after the stock violated the RM0.105'RM0.13 consolidation range. Its share price had appreciated asexpected, following the breakout and eventually reached as high as RM0.20, whichis just shy of our RM0.21 price target.

Nevertheless, the steep uptrend line was quickly violated on6 March 2012 and this had caused its share price  to retrace sharply. Meanwhile, Winsun's shareprice has now started to stabilize at above the 61.8% Fibonacci retracementpoint of the Jan-Feb sharp rally.  Forthe last three weeks, the stock has been trending sideways  within the range of RM0.11'RM0.135.  Asmentioned earlier, the current consolidation range  coincides with  the previous consolidation range of RM0.105-RM0.13.  

As the stock has started to stabilize right above the 61.8%Fibonacci retracement level and an obvious consolidation zone could also beidentified,  we see  another trading opportunity  being presented. Hence, we advise traders toaccumulate shares at prices between RM0.11 and RM0.135. This time, we areeyeing the RM0.18 level as the upside target, but advise traders to cut lossesshould the RM0.11 support floor be taken out.

The RM0.135 resistance line of the consolidation phase isnow the immediate resistance. The RM0.15 level is another level to bechallenged, prior to reaching our RM0.18 price target. To the downside, lookfor RM0.11 as the immediate crucial support. The next support lies at theRM0.10 psychological mark.

Source: OSK188