TRC Synergy is testing the immediate resistance level with higher trading volume. For the last 10 sessions, its share price rose on the back of higher trading volume, signalling positive buying interest. If the stock breaks out from the MYR0.36 resistance, we expect the positive momentum to drive it towards next resistance level pegged at MYR0.38 followed by MYR0.42. A downside breach of the MYR0.33 support level would nullify this expectation and see further share price correction.

Source: RHB Securities Research - 21 Dec 2020