Ta Ann Holdings is moving sideways, testing the RM2.91 resistance level. With its 21-day moving average indicator in an uptrend, coupled with higher trading volume, we see a possibility for a technical breakout. If this happens, we expect it to move towards the short-term target prices of RM3.02 and RM3.11. The downside support is projected at RM2.80. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM2.91

Target: RM3.02, RM3.11 (time frame: 2-4 weeks)

Exit: RM2.80

Source: AmInvest Research - 25 Feb 2021