PWF Corporation Bhd (PWF, 7134)

• Share price closed 8.96% higher at RM0.73 on Tuesday.

• PWF may trend higher after breaking above the RM0.68 resistance line yesterday. Coupled with thestock posting a white marubozu candle and reaching its 52-week high of RM0.735 further supported by high trading volume, its positive outlook should remain in the near term.

• Towards the upside, the bullish momentum will bring the stock to the next resistance of RM0.78 (R1)followed by RM0.80 (R2).

• On the downside, stop-loss is set at RM0.63, below the 18 Sep’s low.

Source: Rakuten Research - 25 Oct 2023

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