TMC Life Sciences is set for an uptrend continuation after bouncing off the 21-day SMA line and breaking above the MYR0.75 immediate resistance on higher trading volume. Coupled with a “White Marubozu” bullish candlestick, the bulls are likely to propel the stock towards the MYR0.80 resistance level, followed by the next resistance at MYR0.90. If the price falls below the MYR0.69 support level, it would signal the beginning of a correction.

Source: RHB Securities Research - 7 Feb 2024