RHB Retail Research
Trading Stocks - Wah Seong
Wah Seong may rebound further after it tested the MYR1.18 support recently. Given that the stock has formed a long white candle above the 21-day SMA line, the bullish sentiment has been enhanced. A positive bias may emerge above the MYR1.24 level, with an exit set below the MYR1.18 mark. Towards the upside, the immediate resistance is at the MYR1.40 level, followed by the MYR1.50 threshold.
Source: RHB Securities Research - 7 Jan 2020
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