Tuesday, August 05, 2014

WCT: Poised for recovery

WCT broke above its intermediate downtrend line, RR at RM2.20 yesterday. With this upside breakout, WCT is likely to begin its slow recovery. This has happened before in 2012 when it broke above its then intermediate downtrend line, R1-R1.

Based on upside breakout, WCT could be a good trading BUY.

Chart: WCT's weekly chart as at August 4, 2014 (Source: Tradesignum)

In addition to the disclaimer in the preamble to my blog, I hereby confirm that I do not have any relevant interest in, or any interest in the acquisition or disposal of, WCT.

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