TMC Life Sciences’ buying interest is back after it broke out of the 6-week bullish pennant pattern with a long white candle yesterday. As the stock has surged to a new 52-week high, the near term bullish trend may still have legs. A bullish bias may emerge above the RM0.73 level, with a stop-loss set at RM0.66, below the 50-day EMA. Towards the upside, the near-term resistance level is seen at RM0.80, followed by RM0.85.

Entry : RM0.73–0.745

Target : RM0.80, RM0.85

Exit : RM0.66

Source: AmInvest Research - 3 Jan 2024