We believe the buying interest for Jaya Tiasa is back after it pushed out from the 3-week bullish flag pattern with a long white candle yesterday. On a new 52-week high coupled with rising EMAs, additional upside strength may be present in the near term. A bullish bias may emerge above the RM1.30 level with stop-loss set at RM1.21, below the 20-day EMA. Towards the upside, near-term resistance level is seen at RM1.50, followed by RM1.60.

Entry : RM1.30–1.39

Target : RM1.50, RM1.60

Exit : RM1.21

Source: AmInvest Research - 7 Mar 2024