ViTrox may rebound further after it tested the MYR5.95 support in its latest session. Given that the stock has formed a “Bullish Engulfing” pattern on 20 Dec, this indicates a potential rebound. A bullish bias may emerge above the MYR5.95 level, with an exit set below the MYR5.95 level. Towards the upside, the immediate resistance is at MYR6.50. This is followed by the MYR6.90 level.

Source: RHB Securities Research - 21 Dec 2018