VS Industry is poised to continue the bullish trajectory after it broke past the key resistance on high volume. The counter has breached the MYR0.92 resistance to form a fresh “higher high” bullish candlestick. We observe that trading volume has been increasing in tandem with the share price, showing strong bullish momentum is underway. The momentum should propel the counter towards the MYR1 mark, followed by MYR1.05. On the contrary, falling below the MYR0.84 support will set off the correction phase.

Source: RHB Securities Research - 26 Apr 2024