KUALA LUMPUR (April 16): RHB Retail Research said Notion VTec Bhd is looking to extend upside movement after staging a bullish breakout.

In a trading stocks note on Tuesday, the research house said that the stock has rebounded above the 49.5 sen resistance, ie above the 21-day simple moving average (SMA) line.

“We observed the trading volume increasing — showing the bullish momentum is accelerating.

“Expect this momentum to propel the stock towards the next resistance at the 56 sen recent high, followed by 63.5 sen.

“On the flipside, falling below the 44.5 sen support will negate the bullish setup,” it said.