Vinvest Capital Holdings is eyeing to rebound from the recent pullback after attempting to move past the MYR0.535 resistance level – which was Monday’s intraday high – yesterday, coupled with strong volume. We expect the bulls to re-emerge if the stock manages to climb above that level. If that happens, the next resistance is set at the recent high of MYR0.575 or also the 52-week high, followed the MYR0.635 level. Conversely, falling below the immediate support of MYR0.50 may trigger the resumption of a downward correction – forming a “lower low” bearish pattern.

Source: RHB Securities Research - 23 Feb 2022