Vetece is eyeing to stage a bullish breakout, testing the immediate resistance on high volume. The stock is seen moving sideways below the MYR0.53 resistance. However, we have observed the trading volume increasing, which suggests the bullish momentum is picking up pace again. In the event it breaks past the immediate resistance, the momentum may propel the counter towards MYR0.56, followed by the MYR0.60 higher resistance. Conversely, breaching the MYR0.475 support will invalidate the positive expectation and set off a correction.

Source: RHB Securities Research - 2 Jan 2025