VS Industry
VS Industry, as cited in RHB Retail Research’s technical analysis report (Dec 14), is poised to resume its uptrend as it climbed higher and eyed the immediate resistance point of MYR0.95 yesterday. If it manages to breach above that level – forming a “higher high” bullish pattern – the bullish bias above that may push the stock higher towards the MYR1.00 psychological level, followed by MYR1.05 next – the highest level since 13 Sep. Conversely, the stock may reverse direction towards the average line if it falls below the MYR0.895 support, forming a “lower low” bearish structure beneath the average line.
Genetec Technology
This counter is set to rebound higher, as it bounced off the 21-day SMA line and reclaimed the territory above the MYR2.69 previous breakout level yesterday. If it manages to stay above that level, we expect strong buying interest to emerge later to propel the stock higher towards the MYR2.87 recent high, before hitting the MYR3.00 threshold. The momentum may be reversed if it drops below MYR2.56 – forming a “lower low” bearish pattern, below the average line.
