Market expectations of higher orderbook and better earnings visibility have kept TAS on a bullish trend over the past few months. Its share price surged 14 sen yesterday to close at RM1.28, potentially heralding the start of yet another run-up. Trading volume was also high and based on the “Bullish Pennant” chart formation; the technical picture suggests that TAS could make its way up to RM1.91 over the coming months. Traders looking to buy into the stock should aim to lock in their gains 3 bids below this targeted level (RM1.88). At the same time, a protective stoploss should also be placed just below the Pennant support at RM1.09.

 

Source: Kenanga