Wellcall Holdings is eyeing for a technical breakout after bouncing off the 21-day SMA line, heading towards the RM1.75 immediate resistance yesterday. If a breakout above that level happens, indicating a “higher high” bullish structure, the stock may surge towards RM1.90, followed by the RM2 mark. On the other hand, falling below the MYR1.63 support will kick off the correction phase.
Source: RHB Securities Research - 23 Jan 2024
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