- Target Price: RM0.640, RM0.690
- Last closing price: RM0.600
- Potential return: 6.6%, 15.0%
- Support: RM0.565
- Stop Loss: RM0.540
Possible for bottom fishing. TNLOGIS
formed a bullish engulfing candlestick pattern on a weekly basis,
signifying a possible halt to prior downtrend. Improving RSI and MACD
indicators currently signal reasonable entry level, with anticipation of
continuous improvement in both momentum and trend in near term. Should
resistance level of RM0.640 be broken, it may continue to lift price
higher to subsequent resistance level of RM0.690.
However, failure to hold on to support level of RM0.565 may indicate weakness in the share price and hence, a cut-loss signal.
