Ta Ann is poised to test the immediate resistance level at MYR3.10. We noticed that, since the beginning of November, the stock has been rising in tandem with higher trading volumes. If the breakout does happen, we believe the stock will resume its prevailing bullish trend, climbing higher to test the next resistance level at MYR3.30 and followed by MYR3.60. This positive expectation should remain valid, provided the MYR3.00 support is not breached.

Source: RHB Securities Research - 7 Dec 2020