KUALA LUMPUR (May 5): RHB Retail Research said WTK Holdings Bhd is poised for a technical breakout as it trended upwards and closed at the resistance point of 56 sen last Friday — coupled with improved volume.

In a trading stocks note on Thursday (May 5), the research house said if the stock manages to break above that level, buying interest should propel the stock towards the next resistance of 60 sen, then the YTD high of 64.5 sen.

“If it falls below the support level of 53 sen, selling pressure may emerge as it forms a 'lower low' bearish formation below the 21-day average line,” it said.