Kenanga Research & Investment
Highlights / Stock Picks of the Day - Jag Berhad – Not Rated
JAG is trading at a downtrend channel for the past few months. The share price has been rebound from the strong support level of RM0.125 with increased in the daily trading volume. Yesterday, JAG gained 3.45% to settle at RM0.15. Both RSI and Stochastic indicators are rebounding from oversold territories, while MACD indicator is hooking upwards, suggesting the buying pressure is piling up. We reckon that the share price could rally towards the channel resistance line of RM0.215. Traders who looking to buy into this stock should aim to take profit 3 bids below the strong resistance line at RM0.20, while a strict stopped-loss should be placed at RM0.11.
Source: Kenanga
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