We believe the buying momentum for JAG may have returned after it pushed out of its 1-month bullish rectangle pattern with a white candle yesterday. The stock’s move above the RM0.38 resistance coupled with its rising EMAs, indicates that the near term bullish trend may persist. A bullish bias may emerge above the RM0.38 level, with a stop-loss set at RM0.35, below the 50-day EMA. Towards the upside, the near-term resistance level is seen at RM0.42, followed by RM0.44.

Entry : RM0.38–0.385

Target : RM0.42, RM0.44

Exit : RM0.35

Source: AmInvest Research - 15 Mar 2023