RHB Investment Bank Bhd (RHB Research) has identified ViTrox Corp Bhd and Greatech Technology Bhd as bullish trading ideas, supported by strong technical momentum and positive chart patterns.
In a note dated 30 May, the research house said ViTrox had broken above a key resistance level of RM3.25 with high trading volume, indicating that a strong uptrend could be in motion.
“ViTrox has closed above the RM3.25 resistance, showing strong bullish momentum is underway,” it said. RHB Research expects the stock to climb towards RM3.50, with a further upside potential towards RM3.70, should buying interest persist.
However, the research house cautioned that a drop below the RM3.10 support level would negate the bullish setup and trigger potential downside correction.
Meanwhile, Greatech Technology has also shown signs of extending its uptrend, having climbed above the 21-day simple moving average and breaking the immediate resistance at RM1.72.
“The counter has charted a fresh white candlestick and closed above RM1.72, which shows a bullish technical setup is in play,” it said.
RHB Research projects that follow-through price action could lift the stock to RM1.85, and subsequently to RM1.95. A fall below RM1.60 would invalidate this outlook, it added.
Both counters have drawn renewed investor attention as sentiment in the broader technology sector improves, underpinned by optimism surrounding global semiconductor demand and artificial intelligence growth.
