Date of Report

October 28, 2024

Broker Name

CGS International

Company Overview

WTK Holdings Berhad is an investment holding company that provides management services. Through its subsidiaries, the Company manufactures and trades plywood, sawntimber, and timber logs. WTK Holdings also engages in trading adhesive and gummed tapes, extracting timber logs, trading electrostatic discharge products, and leasing properties.

Stock Performance

• Last Price: RM0.50
• Entry Price: RM0.48 – RM0.50
• Stop Loss: RM0.465
• Support Levels:
  • Support 1: RM0.47
  • Support 2: RM0.45
• Resistance Levels:
  • Resistance 1: RM0.520
  • Resistance 2: RM0.545
• Targets: RM0.545, RM0.56

Technical Analysis

The stock continued to climb on the report date, following a bullish breakout from its year-to-date consolidation triangle. It formed its third consecutive white candle, likely indicating that bullish momentum is gaining strength.

Momentum Indicators

Both the Moving Average Convergence Divergence (MACD) and Relative Strength Index (RSI) have strengthened further, suggesting that buying momentum is rising.

Investment Recommendation

Aggressive traders may want to go long on this stock, either at the current price or on weakness, with a stop-loss set at RM0.465 (a tick below the last swing low). The stock may push beyond its year-high of RM0.52, targeting RM0.545 and RM0.56 in the near term.