Tasco Is Attempting to Break Free of Its Sideways Consolidation

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According to RHB Retail Research, Tasco Bhd is exiting a sideways consolidation phase, as it recently attempted to overcome the RM1.19 immediate resistance level on brisk trade volume.

The research house stated in a trade stocks note today that if the stock manages to break over that level, bullish momentum could push it towards the RM1.24 resistance, followed by RM1.33 – the stock’s highest level since April.

“Meanwhile, if the stock goes below the RM1.06 support, it will print a bearish “lower low” pattern,” it added.

Published by Zack Baharum

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