We think the buying momentum for Vestland is still strong after it surged above the RM0.52 resistance and hit a new all-time high yesterday. The stock has marked higher closes since 8 Aug coupled with rising EMAs, hence, the near term bullish trend may still have legs. A bullish bias may emerge above the RM0.52 level with stop-loss set at RM0.47, below the 20-day EMA. Towards the upside, near-term resistance level is seen at RM0.60, followed by RM0.65.

Entry : RM0.52–0.54

Target : RM0.60, RM0.65

Exit : RM0.47

Source: AmInvest Research - 14 Aug 2024