RHB Retail Research
Trading Stocks - Widetech
Widetech is in a position to breach the immediate resistance after it bounced off the 21-day SMA line recently. If it manages to move beyond the MYR4.22 immediate resistance level – printing a “higher high” structure – the positive momentum will propel the stock towards the recent high of MYR5.00, before reaching the historical high of MYR6.07. On the other hand, falling below the MYR3.78 support may see it moving southwards.
Source: RHB Securities Research - 13 Aug 2021
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