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 theupward 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 - 5 Sept 2024
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