Wing Tai (technical)

Wing Tai: corporate news flow is thin. Mgt has been highlighting cautious views regarding the property market, and the company has not announced any recent tender wins. Technically, the long term uptrend remains intact. The bounce from the $1.925 low (25 Jun) , coupled with upward reversal of the key indicators bodes well for near term price action. If resistance at $2.10 is broken, momentum could drive the stock back to test the recent ~$2.40 multi year high. However, should share price head back down and break below the $1.90 support, we would correct to a negative technical view.