Source: moomoo Malaysia

Target Price: RM0.880, RM0.905

Last Closing Price: RM0.830

Potential Upside: 6.02%, 9.03%

Support: RM0.810

Stop Loss: RM0.750

Substantial shares repurchased by major shareholders. Tanco Holdings’ share price is standing well above the EMA5/10/20/60/120/250 levels. We see aggressive share repurchases by the major shareholder from January 2024, in conjunction with the announcement of a major Artificial Intelligence (AI) port in Port Dickson. We expect TANCO to continue its upward momentum should the share price stay above RM0.810, to challenge RM0.880 and RM0.905 levels.

However, breaching of RM0.750 level might see significant weakness in price momentum.