Quick take: Ta Win shares rise in active trade

KUALA LUMPUR: Ta Win Holdings Bhd is one of the most actively traded counters on Bursa Malaysia in early trade with over 23 million shares done.

The copper wire and rod maker climbed 2.94%, or 0.5 sen to 17.5 sen at 9.49am. It has risen a whopping 153% so far this year.

RHB Retail Research said Ta Win is poised to retest its recent high as it attempted to breach the immediate resistance level of 17 sen on strong trading volume.

“Premised on the latest white body candlestick, a bullish bias could emerge if it breaches above that level.

“If that happens, expect a follow-through price action to test the next resistance of 19 sen, followed by 20 sen,” RHB said.

Meanwhile, the research house said falling below the 15.5 sen support would see the direction shift downwards.

Ta Win’s net loss narrowed to RM4.53mil in the first nine months to March 31 against RM7.4mil in the same period a year ago.

Its revenue in the first nine months rose to RM336.56mil from RM217.33mil previously.

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