TA may be poised for a bullish breakout

TA has been consolidating since recording its recent high of RM2.29 on February 21. Yesterday, the stock gained 5 sen to close at RM1.65. A break above RM1.65 would mean that TA has broken to the upside of the overhead medium-term downtrend line (see Chart 1 below).

Chart 1: TA's daily chart as at October 4 (courtesy of Quickcharts)

An indication of the likelihood of a breakout in TA share price may be seemed from the chart of TA-WB (see below). That chart shows that TA-WB has broken to the upside of the overhead medium-term downtrend line at RM0.69-70.


Chart 2: TA's daily chart as at October 4 (courtesy of Quickcharts)

If TA can achieve a breakout with significant volume, the stock & the warrant would be a good trading BUY.