Recall that we highlighted WZSATU on 15 May (at RM0.85) when the share price broke out from the “Bollinger Squeeze” bands. One month down the road, WZSATU had performed beyond our expectations, chalking up 29.4% gain to close at its all-time high level of RM1.10 yesterday. Despite the steep rally in share price, we do not see any signs of waning in terms of buying momentum. In fact, the share has just broken out from the “Bullish Flag” chart pattern to signal another round of upside movement is coming along the way. Traders who look to buy into the stock should target to take profit at RM1.30 (3 bids below the Flagpole measurement objective) while placing a protective stop-loss at RM1.02.

 

Source: Kenanga