VS Industry pulled back from its recent top, and may be eyeing a rebound near the support level of MYR1.00. Note that MYR1.00 was a bullish breakout point, and has become a strong support. If the stock breaches the MYR1.00 mark, it may drop further towards the next support of MYR0.93. Despite a mild correction, we think the bulls are still in control – as the stock is above the 21-day SMA line. It may resume the upside movement by pushing upwards past the MYR1.07 resistance. If this happens, it should then travel towards the higher resistance of MYR1.15.

Source: RHB Securities Research - 23 Aug 2022