Jaya Tiasa Holdings jumped and tested the RM0.78 resistance level. With its 21-day moving average in an uptrend, coupled with a higher trading volume, we see a possibility for a technical breakout. If this happens, we expect it to move towards the short-term target prices of RM0.82 and RM0.85. The downside support is projected at RM0.715. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM0.78

Target: RM0.82, RM0.85 (time frame: 2-4 weeks)

Exit: RM0.715
 

Source: AmInvest Research - 21 Oct 2021