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