V.S. Industry posted two long white candles in a row and pushed above the RM1.07 mark (the horizontal line) on Thursday, which likely indicates the return of buying interest. As its 20-day and 50-day EMAs are converging now and are likely to turn up in the near term, a positive outlook can be expected here. A bullish bias may emerge above the RM1.07 level, with a stop-loss set at RM0.99, below the 50-day EMA. Towards the upside, the near-term resistance level is seen at RM1.20, followed by RM1.30.

Entry : RM1.07–1.10

Target : RM1.20, RM1.30

Exit : RM0.99

Source: AmInvest Research - 22 Aug 2022