KUALA LUMPUR (Feb 29): RHB Retail Research said TDM Bhd staged a bullish breakout and is eyeing to scale higher.

In a trading stocks note on Thursday, the research house said that after consolidating sideways for the past one year, the counter managed to break past the 20 sen resistance.

“We observe that trading volume has been increasing, showing the bulish momentum is picking up pace.

“The renewed momentum should lift the stock towards 23 sen, followed by 24.5 sen. Conversely, falling below the 18 sen support will negate the bullish setup,” it said.