Vestland is attempting an upside breakout after testing the immediate resistance with a long white candlestick. The stock printed a long white candlestick and is eyeing the MYR0.60 resistance level. We observed that volume has been increasing in tandem with the share price, showing that the underlying momentum is bullish. If it breaks past the immediate resistance level, we expect the stock to testthe next resistance at MYR0.65, followed by the one at MYR0.70. A fall below the MYR0.53 support level would commence the correction phase.

Source: RHB Securities Research - 12 Nov 2024