RHB Retail Research
Trading Stocks - VSTECS
VSTECS may be ripe for a technical rebound as the bullish momentum has been gaining traction recently. Observe that the stock has been moving sideways, showing that selling pressure is subsiding. If it breaks above MYR2.70, a bullish bias may emerge again. The next resistance is pegged at MYR2.80, followed by MYR3.00. Meanwhile, breaching the MYR2.52 support, would see the resumption of a downward movement.
Source: RHB Securities Research - 8 Jul 2021
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