Tasco is set to propel towards its YTD high after bouncing off the 21-day average line to close above the MYR1.18 resistance yesterday. Bullish pressure above that level is likely to propel the stock higher towards the MYR1.24 YTD high, followed by MYR1.30. However, the momentum may decline if it falls below the MYR1.13 support level, forming a “lower low” bearish structure below the average line.
Source: RHB Securities Research - 22 Apr 2022
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