WTK Holdings (WTKH MK) Technical BUY with +13.9% potential return Last price : RM1.37 Target Price: RM1.40, RM1.56 Support : RM1.28 Stop-loss: RM1.27 BUY with a target price of RM1.56 with stop loss placed below RM1.27. The stock has been trading above the rising trendline since 28 Mar 13. Given the recovery from the recent pullback to the low of RM1.28, WTKH has successfully closed above the 10-day and 21- day SMA lines with a higher trading volume of 2.5m shares yesterday, which suggests the creation of a new up-leg. Following a bullish crossover in MACD confirming the potential upside, the rising momentum should able to lift share price hereafter. We peg our upside target at 1.61x Fibonacci extension, or a target price of RM1.56 over the medium term.
UNCONDITIONAL TAKE-OVER OFFER BY WAWASAN TKH SDN BHD, TAN SRI DATO’ TAN KIM HOR, DATO’ TAN BOON PUN, DATO’ TAN HOE PIN AND DR. TAN BAN LEONG (“JOINT OFFERORS”) TO ACQUIRE ALL THE REMAINING ORDINARY SHARES OF RM0.10 EACH IN WWTKH (“WWTKH SHARES”) NOT ALREADY OWNED BY THE JOINT OFFERORS (“OFFER SHARES”) FOR A CASH CONSIDERATION OF RM0.09 PER OFFER SHARE (“OFFER”)
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Posted by johnny cash > 2014-03-25 13:40 | Report Abuse
WTK Holdings (WTKH MK)
Technical BUY with +13.9% potential return
Last price : RM1.37
Target Price: RM1.40, RM1.56
Support : RM1.28
Stop-loss: RM1.27
BUY with a target price of RM1.56 with stop
loss placed below RM1.27. The stock has
been trading above the rising trendline since
28 Mar 13. Given the recovery from the recent
pullback to the low of RM1.28, WTKH has
successfully closed above the 10-day and 21-
day SMA lines with a higher trading volume of
2.5m shares yesterday, which suggests the
creation of a new up-leg. Following a bullish
crossover in MACD confirming the potential
upside, the rising momentum should able to lift
share price hereafter. We peg our upside
target at 1.61x Fibonacci extension, or a target
price of RM1.56 over the medium term.