Wellcall Holdings Bhd (WELLCAL, 7231)

• Share price closed 1.6% higher at RM1.26 on Monday.

• WELLCAL has formed a midterm uptrend since 29th Nov 2021. Recently, its share price has fallen onto its uptrend line which acts as its support line. It has also closed above all its key moving averages on the previous trading day.

• Provided that its share price is able to sustain above its uptrend line, WELLCAL is poised to move higher from its uptrend support line again.

• Resistance levels are identified at RM1.31 (R1) and RM1.38 (R2).

• On the flipside, support levels are pegged at RM1.24 (S1) and RM1.17 (S2).

Source: Rakuten Research - 19 Jan 2022