V.S Industry is poised for a rebound from the recent pullback, after it bounced off the immediate support recently – forming a “higher low” bullish pattern. If it manages to breach the recent all-time high of MYR1.73, the momentum is expected to propel the stock towards the uncharted territory of MYR1.90, before reaching the MYR2.00 psychological resistance. However, this expectation will be cancelled if it falls below the support of MYR1.53 – voiding the previous breakout level.

Source: RHB Securities Research - 6 Oct 2021