VS Industry is poised to stretch its upside movement after staging a bullish breakout. The stock has closed above the MYR1.32 resistance to confirm a bullish setup. We observed the 21-day SMA line moving upwards, showing that short-term trends remain bullish. An extension of the bullish setup should see a “higher high” price action that tests the next resistance at MYR1.43, followed by MYR1.55.On the flipside, falling below the MYR1.23 support opens the door for downside corrections.

Source: RHB Securities Research - 17 Jul 2024