Tambun Indah Land Bhd

• Share price closed 1.76% higher at RM0.865 on Thursday.

• TAMBUN experienced a gap down following its dividend ex-date and the 2QFY23 financial results at the end of Aug-23 with support level seen at RM0.83. Buying momentum remains intact as it gapped up yesterday and attempted to break its current level. Coupled with a bullish MACD crossover, share price is expected to propel higher.

• Resistance levels are identified at RM0.87 (R1) and RM0.90 (R2).

• On the flipside, support levels are pegged at RM0.83 (S1) and RM0.81 (S2).

Source: Rakuten Research - 22 Sept 2023

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