Notion Vtec Bhd (0083)

• NOTION rose 14% or 14 sen to RM1.14 yesterday.
• Yesterday’s price action saw renewed buying interest with higher trading volume following the announcement of them securing a RM338m contract for the supply of disposable nitrile examination gloves.
• On the back of the positive development, we expect continued bullish momentum potentially breaking above the RM1.30 level.
• From here, resistance levels are identified at RM1.31 (R1) and RM1.55 (R2).
• Conversely, support levels are expected at RM1.06 (S1) and RM0.76 (S2).

Source: Rakuten Research - 23 Sept 2020