Tanjung Offshore Group (stock code 7228) Trading/Services – RM0.975.
Chart wise:
A breakout! In line with the breakout, all its technical indicators have hooked up, while trading volume surged strongly on Monday. Tanjung Offshore is active in securing offshore support vessel (OSV) operation contracts have already been acquired by Equinas recently. The above
developments may have contributed to the share price surge.
Tanjung Offshore Daily chart:
Due to the steep rise, a correction may be around the corner and a strong resistance awaits at RM1.04, limiting upside from this point. Hence, trader should only trade if there is a controlled correction, with its prices staying above and rebounding from RM0.83, its support.
by Mercury Securities
Tanjung Offshore Berhad is principally an investment holding company.
