RHB Research sees further upside for Stratus Global Holdings Bhd and VS Industry Bhd after both counters broke above key resistance levels, signalling bullish momentum.
Stratus Global Holdings closed above the RM3.20 resistance after forming a bullish candlestick, with RHB Research expecting the counter to test RM3.40 followed by RM3.60.
The research house said sustained momentum following the breakout could support further gains. However, a fall below the RM3.05 support level would invalidate the bullish setup.
Meanwhile, VS Industry broke above the RM0.28 resistance on strong trading volume on Friday, forming a long white candlestick that reaffirmed its bullish momentum.
RHB Research expects the counter to advance towards RM0.31, followed by RM0.34.
A decline below the RM0.26 support level would weaken the bullish setup and potentially trigger further downside, the research house said.
