Jaks Resources inched above the RM0.55 level in its latest session. With a moderate RSI level, it may trend higher above this point with a target price of RM0.67. Meanwhile, it may continue trending sideways if it dips back below the RM0.55 mark in the near term. In this case, support is anticipated at RM0.50, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy on further rebound above RM0.55

Target: RM0.67 (time frame: 3-6 weeks)

Exit: RM0.50

Source: AmInvest Research - 16 Jan 2019