WCT’s rebound should extend further after it closed above the psychological RM2.50 yesterday. A purchase can be made above the level, with a close below the recent low of RM2.43 as a stop-loss. Price targets are RM2.90 and RM3.11, provided that the recent high of RM2.80 is violated. Failure to hold above the psychological level could see a return of selling and supports are expected at the recent lows of RM2.30 and RM2.16.
Source: OSK
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