TAFI Industries is set to print an uptrend reversal after moving past the consolidation phase of MYR0.75 yesterday on improved trading volume – drawing a “higher high bullish pattern. If it manages to stay above that level, the bullish momentum may travel towards the immediate resistance of MYR0.82, followed by the next resistance of MYR0.86. Conversely, falling below the MYR0.70 support should trigger selling pressure, thereby forming a “lower low” bearish pattern below the 21-day average line.

Source: RHB Securities Research - 24 Mar 2022