VSTECS may trend higher after it closed above the key RM4.00 resistance and hit a new high on Tuesday. With the 20-day EMA remaining above the 50-day EMA since the bullish crossover in early January, the uptrend may persist in the near term. A bullish bias may emerge above the RM4.00 level with stop-loss set at RM3.74, below the 20-day EMA. Towards the upside, near-term resistance level is seen at RM4.60, followed by RM4.80.

Entry : RM4.00–4.27

Target : RM4.60, RM4.80

Exit : RM3.74

Source: AmInvest Research - 13 Jun 2024