Bad press surrounding TRC’s construction-related accidents had been a dampener on the share price in the past year. Nevertheless, a lot of the negativity seems to have been already priced in, while the technical picture is in fact beginning to show a silver lining. Yesterday, the share price went up by 2.5 sen to 56 sen. Trading volume was high, and TRC also appears to be rebounding from its upward-trending support line. With the share price also crossing above all 3 SMA lines, we reckon that the share price could potentially extend its move towards the next resistance at 59 sen next. Should this level be taken out as well, we would then expect a retest of the 68 sen high in short order.

 

Source: Kenanga