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Technical Stock Pick - JAKS Resources Bhd
Technical Stock Pick - JAKS Resources Bhd
Closed: RM0.555
Resistance: (R1) RM0.59/(R2) RM0.65
Support: (S1) RM0.455 /(S2) RM0.40
JAKS Resources Bhd (4273) rose 8.5 sen to RM0.555 yesterday to breakout from the 200-day moving average (orange line).
Technical indicators are encouraging with the MACD crossing above its signal line and the RSI climbing towards the overbought zone.
After yesterday’s surge, the stock could pull back on profit taking but has a chance to extend its rebound if share price sustains above its immediate support of RM0.455. For the downside, we advise traders to cut loss if the price falls below the immediate support of RM0.455, marked by the 50- (blue line) and 100-day (pink line) moving averages.
After yesterday’s surge, the stock could pull back on profit taking but has a chance to extend its rebound if share price sustains above its immediate support of RM0.455. For the downside, we advise traders to cut loss if the price falls below the immediate support of RM0.455, marked by the 50- (blue line) and 100-day (pink line) moving averages.
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Ride The Bull Short The Bear
CS Tan
4.9 / 5.0
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
