Notion VTec (0083)

Notion VTec surged past the RM0.82 resistance level with higher trading volume. Given that the RSI indicator is pointing upwards, coupled with a bullish white candlestick pattern, we believe that there could be a technical breakout above the resistance level. If this happens, it may climb towards the short-term target prices of RM0.86 and RM0.90. The downside support is anticipated at RM0.77, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy on breakout RM0.82

Target: RM0.86, RM0.90 (time frame: 2-4 weeks)

Exit: RM0.77

Source: AmInvest Research - 3 Aug 2020