TAS Offshore has a fresh leg on the upside after staging a bullish breakout. The counter has climbed above the MYR0.61 resistance, confirming the end of the consolidation phase. Trading volume has been increasing, showing that bullish momentum is picking up pace. Riding on the momentum, the bulls are looking to test the MYR0.68 level, followed by MYR0.75. If the stock falls below the MYR0.51 support level, this would invalidate the bullish structure.

Source: RHB Securities Research - 13 Feb 2024