Notion Vtec Bhd (0083)

• NOTION surged 36.2% or 29.5 sen to RM1.11 yesterday.

• Since our technical report on 16 July 2020, share price has rallied to high of RM1.11, representing a gain of over 50%. News on the registration with US FDA as face mask manufacturer have seen renewed interest on the stock. Recent price movement indicates strong buying momentum on the stock and coupled with positive signs from key technical indicators, share price may continue to chart new highs.

• From here, resistance levels are expected at RM1.19 (R1) and RM1.27 (R2).

• Likewise, support levels are seen at RM0.955 (S1) and RM0.795 (S2).

Source: Rakuten Research - 4 Aug 2020