VSTECS was testing the RM1.60 level in its latest session with higher trading volume. With an RSI level above 70%, it may climb above this point with target prices of RM1.72 and RM1.78. Meanwhile, it may continue trending sideways if it fails to cross the RM1.60 mark in the near term. In this case, support is anticipated at RM1.48, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM1.60

Target: RM1.72, RM1.78 (time frame: 3-6 weeks)

Exit: RM1.48

Source: AmInvest Research - 5 Dec 2019