We believe that the buying momentum on VSTECS may have returned following its breakout above the 1-month bullish rectangle pattern on Thursday. A new 52-week high coupled with its rising EMAs, additional upside strength may be present in the near term. A bullish bias may emerge above the RM1.35 level, with a stop-loss set at RM1.23, below the 15 Mar low. Towards the upside, the near-term resistance level is seen at RM1.50, followed by RM1.55.

Entry : RM1.35–1.37

Target : RM1.50, RM1.55

Exit : RM1.23

Source: AmInvest Research - 3 Apr 2023