VETECE is attempting to extend the bullish trajectory while testing the immediate resistance with a white candlestick. We observed the 21-day SMA line is moving upwards, showing the short-term trend is bullish. If it closes above the MYR0.49 resistance, a bullish breakout will be confirmed. In this case, the stock may continue to travel towards MYR0.53, followed by the MYR0.56 level. On the other hand, if it breaches the MYR0.435 support, this will kickstart the correction phase.

Source: RHB Securities Research - 15 Nov 2024