GBGAQRS was higher by 3.0 sen (+2.21%) last night to reach RM1.39.
Despite the gains made yesterday, we are not too optimistic about it as we think that the previous rally may be overdone and that yesterday’s long upper shadow indicated some selling pressure after breaking above RM1.40 early during the trading session.
From here, the share could retrace back to its supports at RM1.30 (S1) and RM1.20 (S2).
Should there be any positive catalyst, resistances are found at RM1.55 (R1) and even RM1.75 (R2).
WCT (Not Rated)
WCT gained 4.0 sen (+3.92%) to close at RM1.06.
Yesterday’s move was backed by above-average trading volume. Moreover, all key technical indicators are bullish, possibly indicating that the positive momentum may continue.
If it is able to surge past RM1.15 (R1), next resistance would then be at RM1.25 (R2).
Any retracement towards RM1.00 (S1) would be a good entry point while further downward movement below RM0.900 (S2) would be bearish.
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