Dec 19, 2011

VS RM1.53 - Technical buy

V.S Industry (stock cde 6963)  Industrial Products – RM1.53.

Chart wise:
V.S Industry’s candles have been on the rising trend over the past two months and after hovering at around the RM1.40 level of the past month, the candle penetrated the RM1.45 level last week.

This is pulling its core indicators up with both the RSI and stochastic still strengthening.
The MACD is also looking to cross the trigger line on the upside and may nudge the candles higher. For now, there are Trading buy opportunities so long as the candles stay above the RM1.45 level and on the upside, there are resistances at RM1.55. Apart from the RM1.45 support the other support is at RM1.36.

below: VS technicla chart (click to enlarge)


by Mercury Securities