V.S. Industry Bhd (VS, 6963)

• Share price closed 4% higher at RM1.05 on Thursday.

• VS share price managed to trade above the intersection of MA20 and MA50 recently. There is also higher trading volume seen yesterday signalling bargain hunting activities.

• Backed by upticks in its RSI indicator and MACD bullish signal, its share price is expected to move higher.

• Resistance levels are identified at RM1.07 (R1) and RM1.13 (R2).

• On the flipside, support levels are pegged at RM1.03 (S1) and RM0.995 (S2).

Source: Rakuten Research - 17 Jun 2022