V.S. Industry tested the RM2.71 resistance level. With its 21-day moving average in an uptrend, coupled with higher trading volume, we see a possibility for a technical breakout. If this happens, we expect it to move towards the short-term target prices of RM2.82 and RM2.92. The downside support is projected at RM2.50. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on pullback RM2.71

Target: RM2.82, RM2.92 (time frame: 2-4 weeks)

Exit: RM2.50

Source: AmInvest Research - 29 Jan 2021