WCT Holdings Bhd (WCT, 9679)

• WCT closed 1.9% or 1 sen higher to RM0.53 yesterday.

• The stock is gaining buying interest of late as it formed a breakout from a minor consolidation backed by improving trading volume. Indicator MACD could be on the verge to form a positive crossover and with such developments, we expect the buying interest to be extended.

• Resistance levels are projected at RM0.58 (R1) and RM0.605 (R2).

• On the contrary, support levels are identified at RM0.505 (S1) and RM0.495 (S2).

Source: Rakuten Research - 19 Aug 2021