Thursday 28 Mar 2024
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KUALA LUMPUR (Jan 19): Hong Leong IB Research said V.S. Industry Bhd was on a potential downtrend reversal and that a decisive breakout above immediate resistance of RM1.48 will spur prices higher towards RM1.55 (30-day SMA) and our long term target price of RM1.69.

In a note today, the research house said hey supports are RM1.38 and RM1.34 (50% FR).

“Cut loss at RM1.32.

“Attractive risk to reward ratio with 19% upside against 7% downside. All in, we see a good risk to reward ratio for investor with a theoretical entry price of RM1.42 given that the downside to the cut loss zone of RM1.32 is 10sen (down 7%) while the upside to the long term target of RM1.69 is 27sen (up 19%),” it said.

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