Ta Ann Holdings Bhd (TAANN, 5012)

• TAANN may extend it upward trajectory after it formed a positive cross depicting its 20-day EMAabove the 50-day EMA yesterday. As the stock also broke out from its 3-month downtrend channel pattern in previous sessions, it may see additional strength going forward.

• We expect the rising momentum is set to steer the stock higher and test the subsequent levels ofRM3.73 (R1), followed by RM3.80 (R2).

• On the downside, stop-loss is set at RM3.30, below the 2 Nov’s low.

Source: Rakuten Research - 15 Nov 2023

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