PublicInvest Research

Technical Buy - TCS (0221)

Publish date: Fri, 17 Nov 2023, 10:01 AM
0 10,720
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9th Floor, Bangunan Public Bank
6, Jalan Sultan Sulaiman, 50000 Kuala Lumpur
T 603 2031 3011 | F 603 2272 3704 | Dealing Line 603 2260 6718

  • Target Price: RM0.190, RM0.205
  • Last closing price: RM0.175
  • Potential return: 8.5%, 17.1%
  • Support: RM0.170
  • Stop Loss: RM0.150

          Possible for sideways breakout. TCS is potentially staging a breakout from itssideways channel, with anticipation of continuous improvement in bothmomentum and trend in the near term. Should immediate resistance level ofRM0.190 be broken with renewed buying interest, it may continue to lift pricehigher to subsequent resistance level of RM0.205.

          However, failure to hold on to support level of RM0.170 may indicate weakness in the share price and hence, a cut-loss signal.

          Source: PublicInvest Research - 17 Nov 2023

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