KUALA LUMPUR (March 7): OSK Retail Research said TECHFAST HOLDINGS BHD []’s share price is heading towards the 200-week MAV line with strong volume, implying an obvious attempt at violating the declining moving average line.
It said on Wednesday that should the 200-week MAV line be violated, this will lead to a major breakout and therefore, it advises traders to accumulate its shares in anticipation of a breakout.
“We are eyeing the 23.5 sen to 24.5 sen area as the upside target. A cut-loss strategy should be considered if the share price retraces below the 200-week MAV line,” it said.
It said on Wednesday that should the 200-week MAV line be violated, this will lead to a major breakout and therefore, it advises traders to accumulate its shares in anticipation of a breakout.
“We are eyeing the 23.5 sen to 24.5 sen area as the upside target. A cut-loss strategy should be considered if the share price retraces below the 200-week MAV line,” it said.
