[The Edge] Tambun Indah poised to rise after breaking 80 sen threshold last week, says RHB Retail Research

KUALA LUMPUR (March 21): Tambun Indah Land Bhd is poised to climb higher after it moved past its immediate resistance level of 80 sen last Thursday and remained above the threshold last week, said RHB Retail Research.

“As such, bullish momentum above that level may propel the stock towards 86 sen or the 52-week high, followed by the 90 sen threshold.

“However, the momentum may lose steam if it falls below the 76 sen support, printing a “lower low” bearish structure below the 21- day average line,” it said in a note.