Taliworks Corporation Berhad (stock code 8524) and its subsidiaries manage, operate, and maintain water treatment plants in Malaysia. It also constructs water treatment plants, manages water distribution systems and has research and development activities related to water treatment.
Below: TALIWORKS chart (click to enlarge)
Recommendation
TALIWORKS reached its Wave 2 low of RM1.35 in March 2010 and has since triggered a Stochastic buy signal. With the positive indicators above and higher volume traded yesterday supporting our bullish view,
TALIWORKS has excellent potential to trend higher and test our resistance areas of RM2.00 and RM2.20.
ACCUMULATE (TECHNICAL) on dips for TALIWORKS with firmer support areas at RM1.68 and RM1.91 and potential upside target areas of RM2.26 and RM2.90. Stop-loss is at RM1.66.
