TASCO is poised for an uptrend reversal after rebounding above the 21-day SMA line while recently testing the MYR0.88 immediate resistance on strong volume. If the breakout above that level occurs, we expect the positive momentum to drive the stock higher towards the MYR0.955 resistance or 18 Apr 2023’s high. This is followed by the MYR1.04 next resistance, ie 8 Feb 2023’s high. On the flip side, falling below the MYR0.83 support negates the bullish setup.

Source: RHB Securities Research - 14 May 2024