Rakuten Trade Research Reports

Technical View - TSA Group Bhd

Publish date: Fri, 24 May 2024, 10:55 AM
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TSA Group Bhd

  • TSA is poised for a potential bullish breakout from its three-month rectangular pattern, targeting to surpass the immediate resistance at RM0.83. In view of the stock bouncing off the 20-day EMAs with 7 consecutive white candles, we see a possibility for a technical breakout.
  • In the event if it breaks above the RM0.83 neckline, this will improve buying interests and should lift the stock towards the subsequent level of RM0.87 (R1), followed by RM0.93 (R2).
  • On the downside, stop-loss is set at RM0.73, below 19 Apr’s low.

Source: Rakuten Research - 24 May 2024

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