TASCO – MYR2.14 SHORT-TERM BUY (TECHNICAL) (Stock Code: 5140)
Tasco Berhad (TASCO) provides logistics services. It offers supply, warehousing, and haulage services to airports and automobile manufacturers. It also provides land transportation services.
Recommendation
TASCO made a major daily Wave 2 low of MYR1.55 on 23 December 2011, with grossly oversold and bullish chart signals. All its chart indicators are strongly supportive of further upside. This stock is poised to break into higher territory in due course, as its price broke through its recent resistance levels.
SHORT-TERM BUY (TECHNICAL) on dips for TASCO, with much firmer support areas at MYR1.76 and MYR2.13. Its upside targets are MYR2.35 and MYR2.65. Stop-loss is at MYR1.74.
by Maybank IB
