Rakuten Trade Research Reports

Technical VIiew- TDM Bhd

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Publish date: Fri, 06 Nov 2020, 09:32 AM
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TDM Bhd (2054)

• TDM advanced 10.9% or 2.5 sen to RM0.255 yesterday.

• Chart-wise, share price staged a bullish breakout on the back of higher trading volume yesterday indicating strong buying momentum. With CPO price also seeing a bullish breakout touching the RM3,200 level, henceforth we expect continued uptrend for both CPO and the share price to scale higher.

• As such, resistance levels are identified at RM0.28 (R1) and RM0.32 (R2) level.

• On the downside, support levels are set at RM0.20 (S1) and RM0.16 (S2)

Source: Rakuten Research - 6 Nov 2020

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