TSH Resources is poised to rebound above its consolidation phase after it attempted to break the resistance with higher volume yesterday. The volume has been tapering lately during the recent pullback, before surging yesterday – indicating that strong buying interest has just started. If the stock manages to move above the immediate resistance of MYR1.10, a bullish bias may appear towards the north, and approach the resistance levels of MYR1.16, followed by MYR1.19. However, this expectation would be void if it falls below the MYR1.04 support level.

Source: RHB Securities Research - 23 Apr 2021