Tasco Bhd
is attempting to break loose from the 50-day simple moving average (SMA), which in doing could result in significant upsides.The share price hit a high of RM1.07 yesterday, which serves as the upper limit to the range-bound channel that began in early March. A convincing breach of this hurdle could see the stock attempt to advance towards the historical peak of RM1.47 acheived on Feb 11.
It would take further buying interest to propel the share price forward as the slow-stochastic can be seen edging lower after ramping up past 70 points. The other indicators however remain bullish with the RSI continuing to rise at 68 points.
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