Yesterday, WINTONI’s share price increased 2.5 sen or 8.6% to close at RM0.335, settling above all its key SMAs. The stock has broken above its multimonth immediate downtrend resistance-turned-support of RM0.315 on heavierthan- average trading volume. The bullish reversal play is also displayed in the technical picture with all the technical indicators trending upward especially the Stochastic indicator which rebounded sharply from oversold territory with a positive crossover. We believe the share price will rally towards its recent high of RM0.42 and thus we are issuing a “Trading Buy” call with a target price pegged at RM0.42 (R2).

Source: Kenanga