WZSATU surged 7.5 sen (+9.68%) to close at RM0.85 with improving trading volume. From a technical perspective, WZSATU has broken out from the ‘Bollinger Squeeze’ bands, as its upper and lower band staged a negative divergence, away from all its SMA levels. This suggests that WZSATU is poised to enter into another upcycle. Besides, WZSATU has gapped up with a ‘Marubozu’ candlestick to break out from its upper Bollinger band, further supporting our bullish view. With the MACD crossing over its signal, we believe buying momentum could rally the share price to retest its resistance level of RM0.93 (R1). Shall this resistance level be taken out, we believe WZSATU will rally towards its next resistance level of RM1.07 (R2) and possibly RM1.16 (R3) next.

 

Source: Kenanga