VSTECS Bhd (5162)

• VSTECS closed 3.6% or 7 sen higher to RM1.99 yesterday.

• Share price hit recent low of RM1.67 level and rebounded to current level supported by stronger buying momentum suggested in the upward movement seen in the key momentum indicators. As such, we expect the buying interest to persist and see the share price to trend higher.

• From here, resistance levels are seen at RM2.27 (R1) and further to RM2.58 (R2) level.

• Conversely, support levels are expected at RM1.73 (S1) and RM1.49 (S2).

Source: Rakuten Research - 7 Oct 2020