Tasco Bhd (TASCO, 5140)

• TASCO ended 4.5% or 5 sen higher to RM1.16 yesterday.

• After breaking out from a minor sideways consolidation phase, share price formed a retracement. However, the stock managed to find its support at RM1.10 level and rebounded from the level suggesting the stock is backed by sustaining buying interest. Thus, current level could be opportunity to accumulate along with encouraging signals.

• Resistance levels are projected at RM1.24 (R1) and RM1.33 (R2).

• On the contrary, support levels are pegged at RM1.10 (S1) and RM1.02 (S2).

Source: Rakuten Research - 13 Aug 2021