TASCO jumped and tested the RM1.10 resistance level. With its RSI indicator in an uptrend, coupled with a higher high candle stick pattern, we see a possibility for a technical breakout. If this happens, we expect it to move towards the short-term target prices of RM1.14 and RM1.19. The downside support is projected at RM1.01. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM1.10

Target: RM1.14, RM1.19 (time frame: 2–4 weeks)

Exit: RM1.01

Source: AmInvest Research - 22 Jul 2021