JAKS Resources printed a long white candle to cross the RM0.98 level. With a moderate RSI level, it may rebound further above this point with a target price of RM1.08, followed by RM1.12. Meanwhile, it may continue moving sideways if it dips back below the RM0.98 mark in the near term. In this case, support is anticipated at RM0.92, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy on further rebound above RM0.98

Target: RM1.08, RM1.12 (time frame: 3-6 weeks)

Exit: RM0.92

Source: AmInvest Research - 18 Oct 2018