Looking at the chart for Wasco Berhad, here's my analysis:
Current Price Action: - Trading at RM1.15, up 8.49% - Breaking out from recent consolidation - Price testing key moving average resistance
Key Technical Levels: 1. Support: - Major support at RM0.960 (recent low) - Stop loss level identified at RM0.190 (16.52% below) - Support zone around RM1.00-1.05
2. Resistance: - Immediate resistance at RM1.15 (current level) - Target price at RM1.51 (31.30% upside) - Risk/Reward ratio: 1.89
Volume Analysis: - September 2024: MYR109.098M (-30.54%) - June 2024: MYR157.061M (+751.44%) - Recent volume supporting breakout attempt
Notable Events: - September 2024: MYR23.683M (-46.66%) - March 2024: MYR101.085M (-2531.5%) - Showing signs of business improvement
Trading Setup: - Entry around current levels (RM1.15) - Stop loss at RM0.960 - Target at RM1.51 - Position sizing suggestion: 1052 shares
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