Visdynamics Holdings Bhd (VIS, 0120)
• VIS closed 5.0% higher at RM1.05 on Monday.
• There was a formation of Morning Star candlestick yesterday. VIS has also just traded above its MA 50. A cup and handle would be formed in the event that price manages to break above the short term descending channel which formed since 9 Aug. The uptick in RSI indicates higher possibility of further uptrend.
• Hence, resistance levels are identified at RM1.185 (R1) and RM1.395 (R2).
• On the contrary, support levels are pegged at RM0.995 (S1) and RM0.905 (S2).
Source: Rakuten Research - 7 Sept 2021
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Created by rakutentrade | Aug 23, 2024