AmInvest Research Reports

Stock on Radar - Vitrox Corporation

Publish date: Mon, 30 Jan 2023, 09:27 AM
0 7,934
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We believe the buying momentum for ViTrox Corporation may have returned after it broke above the 2-month bullish rectangle formation with a white marubozu candlestick on Friday. The stock’s move above the RM8.00 psychological mark, coupled with its rising EMAs, indicates that the bullish trend may persist. A bullish bias may emerge above the RM8.00 level, with a stop-loss set at RM7.50, below the 50-day EMA. Towards the upside, the near-term resistance level is seen at RM8.50, followed by RM9.00.

Entry : RM8.00–8.20

Target : RM8.50, RM9.00

Exit : RM7.50

Source: AmInvest Research - 30 Jan 2023

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