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KJTS Group Berhad Breaks ATH: A New Era for the Stock?

fireinabidin999
Publish date: Mon, 23 Dec 2024, 05:43 PM

 KJTS Group Berhad Breaks ATH: A New Era for the Stock?

KJTS Group Berhad made waves today by closing at RM0.85, smashing through its previous all-time high (ATH) of RM0.835. This breakout wasn’t just about the numbers; it came with solid volume—704.6k shares traded—a clear sign that the bulls are in control.

Technical Analysis: Why This Breakout Matters

The RM0.835 level wasn’t just any resistance—it was the line in the sand for KJTS over the past year. Breaking this level signifies a shift in sentiment, and the stock now enters price discovery mode. With the next immediate target pegged at RM0.92, there’s room for further upside.

On the downside, RM0.835 will likely act as the new support. If this breakout falters, watch for further support at RM0.80, which serves as a logical stop-loss level for risk-averse traders.

A Fundamentally Backed Run

KJTS is not just hype. Its projects in Malaysia, Thailand, and Singapore are delivering tangible results. The recent partnership with Central Group isn’t just a contract; it’s a long-term revenue generator, with fixed fees amounting to RM18.78 million over 20 years. Plus, the group is well-aligned with sustainability trends, a key focus for institutional investors.

Should You Jump In?

If you’re bullish on cooling energy and facilities management, KJTS looks like a solid momentum play. The fundamentals support the technical breakout, and the broader construction and energy efficiency sectors remain strong under Malaysia’s Budget 2025 development allocations.

However, don’t forget the golden rule: manage your risk. Set your stop-loss at RM0.80 and keep an eye on volume as the stock approaches RM0.92. If it clears that, this could just be the beginning of a multi-leg rally.

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