V.S. Industry posted 2 long positive candles in a row and pushed above the RM1.20 resistance on Friday, which likely indicates the return of buying momentum. As the stock also surged to a new 52-week high coupled with rising EMAs, we expect further upside from here. A bullish bias may emerge above the RM1.20 level with stop-loss set at RM1.10, below the 20-day EMA. Towards the upside, near-term resistance level is seen at RM1.40, followed by RM1.50.

Entry : RM1.20–1.30

Target : RM1.40, RM1.50

Exit : RM1.10

Source: AmInvest Research - 24 Jun 2024