TAS Offshore may trend higher after it broke above the RM0.70 resistance and hit a new multi-year high a few sessions ago. In view of the uncovered upside gap formed on 25 April and together with rising EMAs, the upward momentum is likely to pick up further. A bullish bias may emerge above the RM0.70 level with stop-loss set at RM0.67, below the 26 April low. Towards the upside, near-term resistance level is seen at RM0.85, followed by RM0.90.

Entry : RM0.70–0.755

Target : RM0.85, RM0.90

Exit : RM0.67

Source: AmInvest Research - 2 May 2024