TAFI Industries is initiating an uptrend reversal following a recent retracement, after it rebounded while crossing the MYR2.46 immeidate resistance yesterday – supported by strong volume above the 21-day average line. If the momentum persists above that level, expect the stock to move towards the next resistance at MYR2.72, then MYR3.05. In the event it drops below the MYR2.34 support, the stock may resume its downtrend, ie below the average line.

Source: RHB Securities Research - 27 Jan 2022