TMC Life Sciences posted 2 long white candles in a row and pushed above the RM0.75 resistance yesterday, which likely indicates the return of buying interest. As the stock has recorded a new 52-week high coupled with rising EMAs, near term upside momentum may continue. A bullish bias may emerge above the RM0.75 level, with stop-loss set at RM0.69, below the 50-day EMA. Towards the upside, near-term resistance level is seen at RM0.85, followed by RM0.90.

Entry : RM0.75–0.775

Target : RM0.85, RM0.90

Exit : RM0.69

Source: AmInvest Research - 8 Feb 2024