KUALA LUMPUR: CWG Holdings Bhd climbed in early trade Wednesday following a technical buy from PublicInvest Research.

       The integrated stationery manufacturer added 4.71%, or two sen to 44.5 sen, its highest in about five weeks. The counter has risen over 10% so far this year.

       PublicInvest said CWG is staging a potential breakout from its sideways channel, with anticipation of continuous improvement in both momentum and trend in the near term.

       “Should the immediate resistance level of 45 sen be broken with renewed buying interest, it may continue to lift price higher to subsequent resistance level of 48 sen.

       “However, failure to hold on to support level of 40 sen may indicate weakness

       in the share price and hence, a cut-loss signal,” it said.