TChong share price tested the 2.37 resistant level today and still holding up strongly. All indicators also giving positive signal towards TChong by looking at the weekly chart. The next resistant target will rest at 2.50 level and support stands at 2.18 level. Should the 2.50 defense line penetrated, a further upside movement for TChong are likely. Fundamentally, the catalyst will be TChong move to purchase a piece of land located in Shah Alam and will be relocating it's existing Segambut assembly plant to Shah Alam. The golden egg here will be the Segambut assembly plant transformation into hi-end property development after relocation unlocking big value due to it strategic location near the heart of Kuala Lumpur to TChong financial book. The engagement of Datuk Michael Yam(ex Sunrise managing director) will also enforced TChong move into property development.
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