Chart 1: WCT's daily chart as at July 16, 2012 (Source: Tradesignum)
We can see from the monthly chart below that the RM2.80 level is a strong resistance as it is the long-term downtrend resistance. If WCT can break above this level, its next upleg could unfold. WCT could potentially test its all-time high of RM5.00.
Chart 2: WCT's monthly chart as at July 16, 2012 (Source: Tradesignum)
Based on technical consideration, WCT could be a good stock for a trading BUY. It could even be a long-term stock if it can break above the RM2.80 mark.
6 comments:
Hi alex,
How you read this news http://adf.ly/AoH7q
Hi Alex ,
With KLCI hitting new high and overbought situation , don't you think it's a bit risky to trade on break out now?
Tx!
Hi Alex
Where do I obtain info on who owns and what % shares hey have on Hap Seng Plantation???
If such info is within your easy reach, pls furnish.
Thank you very much ...
Hi Remnant 888
Info on shareholding can be obtained from Bursa Malaysia. Download the latest annual report and the info is at the last few pages of that report.
do you still think I can enter WCT now?
opps sorry, the previous question of "do you still think WCT can buy now" is NOT by 3pm. I'm using a computer that was used by him and he didn't log out.
I'm sincerely asking for advise, because I've bought some based on your recommendation and am thinking whether to buy more or cut... my email is g.yeap@hotmail.com
Thank you for your help. :)
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