KUALA LUMPUR (March 11): RHB Retail Research said Notion VTec Bhd is poised to scale higher after it formed a bullish setup.

In a trading stocks note on Monday, the research house said that the stock broke past the 50 sen resistance to chart a bullish Marubozu pattern.

“Trading volume has been increasing, which indicates that the bullish momentum is gaining pace now.

“Since the bullish structure has been confirmed, expect a fresh 'higher high' price action to test 57 sen, followed by 64 sen.

“In the event it falls below the 46.5 sen support, this would invalidate the bullish setup,” it said.