Support Levels: RM1.020 (S1), RM1.000 (S2)

Resistance Levels: RM1.050 (R1), RM1.100 (R2)

TANCO (2429) is holding strong amidst market turmoil this Monday, rebounding off RM1.010 and standing above RM1.020 (S1), the mid-term support for TANCO. We see a short term bull flag as the share price is standing well above RM1.000 despite selling pressure, with RSI showing indications of trend divergence (trend reversal). For the coming trading week, it is very likely that TANCO will challenge the previous high of RM1.110.

Rating: Closely Monitor