We believe buying interest for TAS Offshore is back after it pushed out from a 2-week bullish flag pattern 2 sessions ago. In view of the uncovered upside gap formed on 4 Jan and together with rising EMAs, the upward momentum is likely to pick up further. A bullish bias may emerge above the RM0.52 level, with stop-loss set at RM0.49, below the 20-day EMA. Towards the upside, near-term resistance level is seen at RM0.61, followed by RM0.65.

Entry : RM0.52–0.56

Target : RM0.61, RM0.65

Exit : RM0.49

Source: AmInvest Research - 26 Jan 2024