- Target Price: RM0.620, RM0.650
- Last closing price: RM0.590
- Potential return: 5.0%, 10.0%
- Support: RM0.575
- Stop Loss: RM0.550
Possible for uptrend continuation. HWATAI is potentially picking up from its prior uptrend following a short congestion phase, with anticipation of continuous improvement in both momentum and trend in the near term. Should immediate resistance level of RM0.620 be broken with renewed buying interest, it may continue to lift price higher to subsequent resistance level of RM0.650.
However, failure to hold on to support level of RM0.575 may indicate weakness in the share price and hence, a cut-loss signal.
Source: PublicInvest Research - 15 Dec 2022