ViTrox is eyeing to stage a bullish breakout, testing the immediate resistance on strong volume. The stock climbed above the 21-day SMA line yesterday and printed a white candlestick – showing the bullish momentum is picking up pace. In the event it closes above the MYR3.65 resistance, this will confirm a bullish setup. In this case, expect the stock will continue traveling towards MYR3.90, followed by the MYR4.20 level. On the downside, falling below the MYR3.35 support will resume the correction phase.

Source: RHB Securities Research - 8 Nov 2024