We believe buying interest for TAS Offshore is back after it pushed out from the 2-week bullish flag pattern with a long white candle yesterday. The stock’s move above the RM0.38 resistance also coincides with a new multi-year high, indicating that a bullish outlook can be anticipated here. A bullish bias may emerge above the RM0.38 level, with stop-loss set at RM0.34, below the 20-day EMA. Towards the upside, near-term resistance level is seen at RM0.45, followed by RM0.50.

Entry : RM0.38–0.40

Target : RM0.45, RM0.50

Exit : RM0.34

Source: AmInvest Research - 20 Oct 2023