WCT Target Price RM1.50 Stock Code: 9679
In tandem with high trading volume, WCT rebounded strongly from its -2SD regression level to break out from its 1-month’s down trend resistance yesterday. The technical outlook is promising, given that both RSI and Stochastic are showing strong upticks to suggest swelling buying momentum, with the latter reversing strongly from its oversold region to reinforce a rebound play potential. Should follow-through buying interest persist, we view that the share price could retest its previous 1.5 month’s high level of RM1.50 (R2) in the near-term.
source: Kenanga Research 17/11/15
WCT HOLDINGS BERHAD
The Company is principally an investment holding company which provides management services to its subsidiary and associated companies. Its two main subsidiaries are primarily involved in civil engineering and construction property development investment and management activities.