TSRCAP’s technical picture has turned bullish after its share price jumped 10 sen to close at RM1.43 on high trading activity. The bullish move follows an earlier breakout of a “Bullish Flag” pattern last week, and this signals that buying interest has returned after a brief 3-trading-day hiatus. From here, we expect TSRCAP to retest its recent high of RM1.49 fairly soon, before an eventual move towards the RM1.90 “Flagpole” measurement target price. Traders looking to buy into the stock should aim to take profit 3 bids below the targeted level at RM1.87. At the same time, a stop-loss should also be placed 3 bids below the RM1.22 (S2) support level at RM1.19.

 

Source: Kenanga