We think that the buying momentum in Tambun Indah Land may have returned following its breakout above the 4-week bullish rectangle pattern yesterday. The stock also posted three white candles in a row and hit its new 52-week high, likely suggesting that a bullish momentum is picking up. A bullish bias may emerge above the RM0.92 level, with a stop-loss set at RM0.87, below the 20-day EMA. Towards the upside, the near-term resistance level is seen at RM1.00, followed by RM1.05.

Entry : RM0.92–0.945

Target : RM1.00, RM1.05

Exit : RM0.87

Source: AmInvest Research - 13 May 2022