Yesterday, VS was up by 2.4 sen (6.8%) to RM3.78 on higher trading volume. Chartwise, there was a White Marubozu candlestick suggesting that yesterday's trading session was dominated by buyers. Uptrend looks intact with share price above all three key SMA which are trending upwards. The share price has broken out from a ‘Flag’ pattern after consolidating from an all-time high level. Key indicators are implying a trend reversal post the recent consolidation, as the MACD is closing in on the Signal Line while RSI and Stochastics are both inching upwards. Should buying momentum persist, we expect share price to push towards our 'Flagpole' measurement objective by RM1.39 to RM4.70, while we place a stop-loss at RM3.40 (3 bids below the support level (S1)).

Source: Kenanga