Tafi Industries is attempting to stage a bullish breakout, consolidating near the 21-day SMA line. Notice that trading volume has been increasing lately, showing strong buying interest. If the stock breaks past the MYR0.70 immediate resistance, this should attract strong buying pressure. In this case, the stock would climb towards MYR0.755, followed by MYR0.83. If it corrects below the support level of MYR0.62, this will negate the expectation.

Source: RHB Securities Research - 9 Jan 2023