Vestland’s buying interest is back after it broke out of the 2-week bullish flag pattern with a long positive candle yesterday. In conjunction with a bullish hammer pattern formed on 26 Jul and positive slopes of its EMAs, the uptrend may persist in the near term. A bullish bias may emerge above the RM0.48 level with stop-loss set at RM0.45, below the 26 Jul low. Towards the upside, near-term resistance level is seen at RM0.55, followed by RM0.60.

Entry : RM0.48–0.49

Target : RM0.55, RM0.60

Exit : RM0.45

Source: AmInvest Research - 31 Jul 2024