Tasco has reclaimed above its previous breakout level of MYR1.13 on higher trading volume yesterday. The white body candlestick (with long lower shadow at the 21-day SMA line) signals the buying momentum has surfaced above that level. As such, the positive momentum will drive the stock towards the recent high of MYR1.24, before moving further to test the MYR1.32 resistance. Otherwise, falling below the MYR1.07 support ie below the moving average line, may see it shift to a lower level.

Source: RHB Securities Research - 19 Aug 2021