Sector: Logistic and Transportation

Analysed on 09/10/21

Another logistic counter that was benefited from the rising of freight rate this year. TASCO was traded actively this week and successfully broke the descending trendline and the resistance at RM1.170. TASCO is currently trading at its immediate resistance of RM1.300. Should TASCO break RM1.300, it will challenge the next resistance at RM1.350.

Both EMA25 and EMA50 have begun to slope upwards, indicating that TASCO could be in the beginning of an uptrend rally. Note that the traded volume for TASCO were very high recently, therefore there are chances that profit taking activities could happen in the next few trading days. We consider it as a healthy retracement as long as the share price can sustain above RM1.250 by taking the midpoint of the candlestick on Friday as a reference point.

Reason to Monitor: Technical Breakout

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