Rakuten Trade Research Reports

Technical View - Tafi Industries Bhd

Publish date: Fri, 24 Jun 2022, 12:38 PM
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Tafi Industries Bhd (TAFI, 7211)

• Share price closed 30% higher at RM0.490 on Thursday.

• TAFI has formed White Marubozu yesterday and started to close above its MA20 signalling potential reversal from its downtrend movement.

• Backed by upticks in its indicators and bullish MACD crossover, we believe its share price is expected to move higher in the short term.

• Resistance levels are identified at RM0.570 (R1) and RM0.610 (R2).

• On the flipside, support levels are pegged at RM0.465 (S1) and RM0.330 (S2).

Source: Rakuten Research - 24 Jun 2022

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