Tan Chong may resume its uptrend after holding above the RM4.45 support level for the past 3 months. A purchase can be made on a close above the 3-month resistance level of RM4.60 with a close below RM4.45 as stop-loss. The price target is RM5.00 with selling also expected at RM4.80. A close below RM4.45 should see the stock heading lower, continuing its downtrend. Supports are at RM4.00 and RM3.50.
Source: OSK
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