Taliworks Corporation is set for an uptrend after bouncing off the 21-day SMA line and breaking above the MYR0.83 consolidation phase on Friday, on a stronger trading volume. If the breakout sustains, the stock may rebound strongly towards the MYR0.86 resistance, or the all-time high, followed by the MYR1 threshold. On the flip side, a drop below the MYR0.80 support would indicate a potential downtrend – beneath the SMA line.

Source: RHB Securities Research - 2 Jan 2024