Quick take: VisDynamics shares up on technical buy

TheStar Tue, Aug 04, 2020 09:35am - 9 months ago

KUALA LUMPUR: Visdynamics Holdings Bhd’s shares rose to its highest in about six months following a technical buy call from PublicInvest Research.

The counter added 5.04%, or three sen to 62.5 sen with 3.1 million shares done.

PublicInvest said VisDynamics is attempting to resume its prior uptrend.

“Slightly improved RSI and MACD indicators currently signal reasonable entry levels, with anticipation of continuous improvement in both momentum and trend in the near term.

“Should resistance level of 64.5 sen be broken with renewed buying interest, it may continue to lift price higher to the subsequent resistance level of 68 sen,” it said.

However, PublicInvest said failure to hold on to support level of 57 sen may indicate weakness

in the share price and hence, a cut-loss signal. It added that the stop loss level is at 54.5 sen.

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