Momentum Stock - Tanco Holdings Berhad (2429)

Following its break above the key resistance level of RM1.200, Tanco Holdings has demonstrated significant upward momentum, showing no signs of slowing down, as reflected by the red bar on the chart. From an Elliot Wave (EW) Momentum perspective, the stock continues to exhibit a positive upward trend. We expect this momentum to persist, potentially pushing Tanco Holdings to challenge the next resistance level at RM1.500, with critical support established at RM1.200.

Given the current technical indicators, we see this as a solid trading BUY opportunity at its present level, backed by strong upward momentum and favourable technical setups.