• VSTECS rose 3.9% or 8 sen to RM2.16 last Friday.
• Recent move sent the price to form a series of resistance breakout accompanied by higher trading volume after a short period of consolidation. With share price now supported above key moving average line and should the buying momentum continue, we expect share price to go higher.
• As such, resistance levels are seen at RM2.27 (R1) and RM2.40 (R2) level.
• On the downside, support levels are set at RM2.00 (S1) and RM1.91 (S2).
Source: Rakuten Research - 18 Jan 2021
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Created by rakutentrade | Nov 22, 2024