V.S. Industry’s buying interest is back after it broke out of the 8-month downtrend line (derived from Sep21 high) with a long white candle two weeks ago. As its 20-day and 50-day EMAs are converging now and are likely to turn up in the near term, the bullish momentum is rising. A bullish bias may emerge above the RM1.00 level, with a stop-loss set at RM0.92, below 25 May’s low. Towards the upside, the near-term resistance level is seen at RM1.15, followed by RM1.20.

Entry : RM1.00–1.05

Target : RM1.15, RM1.20

Exit : RM0.92

Source: AmInvest Research - 17 Jun 2022