V.S. Industry Bhd (VS, 6963)

• Share price closed 8.7% higher at RM1.25 on Monday.

• After the heavy sell off last Thursday, bargain hunting activities on VS was seen yesterday following the clarification from Andy Hall that there are no further campaigns against the firm.

• Backed by uptick of its RSI indicator from its oversold region, share price is poised to rebound and move higher.

• Resistance levels are identified at RM1.42 (R1) and RM1.54 (R2).

• On the flipside, support levels are pegged at RM1.15 (S1) and RM1.05 (S2).

Source: Rakuten Research - 7 Dec 2021