We expect further upside in Tambun Indah Land after it broke the key RM0.85 resistance (March’s high) with a long white candle on Friday. Together with a new multi-year high and its rising EMAs, a bullish outlook can be expected here. A bullish bias may emerge above the RM0.85 level, with a stop-loss set at RM0.81, below the 20-day EMA. Towards the upside, the near-term resistance level is seen at RM0.92, followed by RM0.95.

Entry : RM0.85–0.885

Target : RM0.92, RM0.95

Exit : RM0.81

Source: AmInvest Research - 18 Apr 2022