VSTECS broke out from its 6-week bullish triangle pattern with a long positive candle yesterday, implying that the previous uptrend may have resumed. As the stock has surged to a new multi-year high, the near term bullish trend may still have legs. A bullish bias may emerge above the RM2.60 level with stop-loss set at RM2.48, below the 20-day EMA. Towards the upside, nearterm resistance level is seen at RM3.00, followed by RM3.20.

Entry : RM2.60–2.73

Target : RM3.00, RM3.20

Exit : RM2.48

Source: AmInvest Research - 7 May 2024