Tasco is in the process of moving away from a sideways consolidation phase, as it attempted to breach the MYR1.19 immediate resistance on surging trading volume recently. If it manages to move past that, the bullish momentum may lift the stock towards the MYR1.24 resistance, followed by MYR1.33 – the highest point since April. Meanwhile, the stock may move downwards if it falls beneath the MYR1.06 support – printing a “lower low” bearish pattern.

Source: RHB Securities Research - 8 Oct 2021