Tafi Industries may extend its uptrend, says RHB Retail Research

KUALA LUMPUR (June 25): RHB Retail Research said Tafi Industries Bhd (KL:TAFI) may extend its uptrend post a bullish breakout.

In a trading stocks note on Tuesday, the research house said the counter had climbed above the 62 sen key resistance on the back of strong volume.

“The volume is rising in tandem with the share price, showing that a strong bullish momentum is underway.

“This should propel the counter towards the next resistance of 68 sen, followed by 75 sen.

“On the flip side, falling below the 57 sen support will lead to a resumption of the correction phase,” the research house said.