KUALA LUMPUR: CIMB Equities Research said since it featured WTK Holdings Bhd [] as a technical sell stock on April 12, prices fell to as low as RM1.72, almost hitting the 30-day SMA.
It said on Friday, April 22 that since then, a base is formed near this moving average. Yesterday, buying momentum started to set in, pushing prices above the flag resistance.
'Looking at the chart, prices could bounce back to test RM2.08 and possibly even the RM2.20 level. Hence, aggressive traders may start to accumulate now. Always put a stop at RM1.88.
'Indicators are improving. MACD is poised for a positive crossover while RSI has hooked upward,' it said.
It said on Friday, April 22 that since then, a base is formed near this moving average. Yesterday, buying momentum started to set in, pushing prices above the flag resistance.
'Looking at the chart, prices could bounce back to test RM2.08 and possibly even the RM2.20 level. Hence, aggressive traders may start to accumulate now. Always put a stop at RM1.88.
'Indicators are improving. MACD is poised for a positive crossover while RSI has hooked upward,' it said.
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