JAKS (Not Rated)

• JAKS gained 12.0 sen (+9.45%) to close at RM1.39 yesterday.
• Chart-wise, the stock has broken above the significant resistance level at RM1.38, backed by higher-than-average trading volume.
• Coupled with a bullish crossover signal from MACD indicator, we believe the stock can move higher.
• Should the stock continue to head north, its key resistance levels are seen at RM1.53 (R1) and RM1.63 (R2).
• Conversely, key support levels can be seen at RM1.23 (S1) and RM1.13 (S2).

COASTAL (Not Rated)

• COASTAL gained 8.0sen (+6.45%) to end at RM1.32 yesterday.
• Chart-wise, the stock has broken above all the key SMAs yesterday, coupled with higher-than-average trading volume.
• Besides, the bullish signal from MACD indicator further supports the underlying trend.
• From here on, its key resistance levels can be found at RM1.40 (R1) and RM1.50 (R2).
• Conversely, downside supports can be identified at RM1.20 (S1) and RM1.16 (S2).

Source: Kenanga Research - 16 Jan 2020