JTIASA’s technical picture had turn bullish after the share price successfully bounced back from 20-day SMA support to break above the Fibonacci resistance @RM2.20 with a bullish “Marubozu” candlestick yesterday. Meanwhile, a bullish “Flag” formation has taken shape on the daily chart, and yesterday’s 10 sen advance serves as confirmation of this bullish chart pattern. However, as the JTIASA trading on thin volume recently, we suggest trader to buy when the share price retreat to immediate support @RM2.23 while targeting RM2.35 as take profit level.
Source: Kenanga