TADMAX has been trading on a strong upward sloping support line and recently broke out from the downward-sloping resistance line at RM0.455. Chart wise, a bullish “Marubozu” candlestick has taken shape and TADMAX closed 4.5 sen or 9.9% higher yesterday. All the key indicators (MACD, Stochastic and RSI) are hooking upwards, suggesting that buying pressure is pilling up. We reckon followthrough buying interest to rally the share price towards its resistance level of RM0.53 (R1) and possibly RM0.57 (R2) next.

 

Source: Kenanga