Highlights / Stock Picks of the Day - WCT Berhad ("WCT")

WCT's share price has been trading range-bound between RM2.68 RM2.74 over the past two months and is seen as forming a short term top in the absence of any catalysts. On Wednesday, WCT rose 4 sen to end
the day at RM2.76. With the bullish move, the technical picture has improved notably, and the share price looks well positioned for an uptrend resumption. Both the 14-day Stochastics and RSI indicators have
hooked up while the single day bullish candlestick  has also triggered a volatility breakout of the 21-day upper Bollinger band. Should the breakout prove successful, the next resistance level to target will be at
RM2.90. The downside support meanwhile are located  at RM2.68 and RM2.63 next.

Source: Kenanga