VSTECS (VSTECS | 5162)
Last Price: RM4.00 | Technical Call: BUY
Support 1: RM3.90 | Resistance 1: RM4.50 |
Support 2: RM3.60 | Resistance 2: RM4.80 |
Shariah Compliant: Yes | Sector: Technology |
VSTECS broke out from its 5-week bullish rectangle pattern yesterday, implying that its previous uptrend may have resumed.
With the 20-day EMA remaining above the 50-day EMA since the bullish crossover in early November, the uptrend may persist in the near term. A bullish bias may emerge above the RM3.90 level with stop-loss set at RM3.58, below the 50-day EMA.
Towards the upside, near-term resistance level is seen at RM4.50, followed by RM4.80.
Entry: RM3.90-4.00
Target: RM4.50, RM4.80
Exit: RM3.58
Source: AmInvest Research - 24 Dec 2024
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