TAS Offshore broke out from a 1-month bullish pennant pattern 2 sessions ago, implying that its previous uptrend may have resumed. As the stock has surged to a new multi-year high, near term bullish trend may still have legs. A bullish bias may emerge above the RM0.56 level, with stop-loss set at RM0.51, below the 20-day EMA. Towards the upside, near-term resistance level is seen at RM0.65, followed by RM0.70.

Entry : RM0.56–0.585

Target : RM0.65, RM0.70

Exit : RM0.51

Source: AmInvest Research - 7 Feb 2024