Sector: EMS / Industrial Product

Analysed on 19/09/21

VS had regained the support around RM1.450 region after falling below the support last week. There is also a minor breakout from the short-term descending trendline on Friday, indicating that the current momentum is strong. VS is currently trading at RM1.490, with immediate support at RM1.450 and immediate resistance at RM1.535.

Overall, VS looks good with decreasing volatility since the major retracement from early April (Volatility Contraction Pattern). Looking at the chart from a wider view, there is actually a formation of inverted head and shoulders pattern, which is also a bullish sign for VS. Investor who is interested in VS could take EMA25 or support level as reference for entry point.

Reason to Monitor: Technical Breakout

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