KUALA LUMPUR (Sept 7): RHB Retail Research said Ta Ann Holdings Bhd is set to propel upwards as it breached the sideways consolidation level of RM4.05 and printed a “Bullish Marubozu” candlestick on Tuesday (Sept 6), forming a “higher high” bullish pattern above the 21-day average line.

In a trading stocks note on Wednesday, the research house said if the breakout is sustained, the uptrend may take the stock to the next resistance of RM4.49, which is also June 22’s high, followed by RM4.85 (the high of June 13).

“However, the stock may reverse direction if it falls below the RM3.84 support, as it may form a 'lower low' bearish pattern below the average line,” it said.