RHB Retail Research
Trading Stocks - Tasco
Tasco exhibited signs of a technical rebound after it formed a long lower shadow near the immediate support level. If it manages to cross above the immediate resistance of MYR1.19 – reclaiming the territory above the 21-day SMA line – a bullish bias should emerge. Towards the upside, the next resistance is set at MYR1.27, then MYR1.33. Meanwhile, if the stock drops below the support level of MYR1.11, this expectation will be cancelled.
Source: RHB Securities Research - 7 May 2021
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