TASCO climbed and tested the RM1.24 resistance level with higher trading volume. With its RSI indicator in an uptrend, coupled with a higher low candlestick pattern, we see a possibility for a technical breakout. If this happens, we expect it to move towards the short-term target prices of RM1.30 and RM1.36. The downside support is projected at RM1.12. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM1.24

Target: RM1.30, RM1.36 (time frame: 2-4 weeks)

Exit: RM1.12

Source: AmInvest Research - 22 Apr 2021