RHB Retail Research
Trading Stocks - Tasco
Tasco is experiencing a strong upward momentum as it climbed above its previous breakout level. As such, a “higher high” price pattern formed above the 21-day SMA line yesterday. Underpinning the bullish momentum above the MYR1.18 resistance-turn-support or breakout level, the stock may extend towards the next resistance at MYR1.25, and then MYR1.31. If it falls below the MYR1.10 support, the stock may move downwards.
Source: RHB Securities Research - 11 Jun 2021
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