Vestland broke out from its 3-week bullish falling wedge pattern with a long positive candle yesterday, implying that its previous uptrend may have resumed. With the stock pushing near its all-time high, supported by its rising EMAs, likely indicates that the upward momentum may be picking up. A bullish bias may emerge above the RM0.53 level with stop-loss set at RM0.49, below the 20-day EMA. Towards the upside, near-term resistance level is seen at RM0.60, followed by RM0.65.

Entry : RM0.53–0.545

Target : RM0.60, RM0.65

Exit : RM0.49

Source: AmInvest Research - 4 Sept 2024