KUALA LUMPUR (Jan 2): RHB Retail Research said Taliworks Corp Bhd is set for an uptrend after bouncing off the 21-day simple moving average (SMA) line and breaking above the 83 sen consolidation phase last Friday, on a stronger trading volume.

In a trading stocks note on Tuesday, the research house said that if the breakout sustains, the stock may rebound strongly towards the 86 sen resistance, or the all-time high, followed by the RM1 threshold.

“On the flip side, a drop below the 80 sen support would indicate a potential downtrend beneath the SMA line,” it said.