Vestland is poised to extend the upside movement after breaking past the resistance on strong volume. The stock managed to reclaim the ground above the MYR0.48 resistance to confirm a bullish setup. The trading volume has been increasing in tandem with the share price, showing bullish momentum is accelerating. The momentum should lift the stock towards the next resistance at MYR0.55, followed by MYR0.60. In the event it falls below the MYR0.44 support, this will negate the bullish setup.

Source: RHB Securities Research - 13 Aug 2024