JAG Bhd (JAG, 0024)

• JAG ended 6.3% or 3 sen higher to RM0.505 last Friday.
• JAG formed a series of resistance breakout and is on a strong bullish uptrend given it is trading above key upward sloping moving average lines. With last Friday’s positive closing of near intra-day high with stronger volume and upward movement in key indicator RSI, we expect share price to trend higher.
• As such, resistance levels are projected at RM0.535 (R1) and further to RM0.575 (R2).
• Conversely, support levels are set at RM0.46 (R1) and next at RM0.45 (S2).

Source: Rakuten Research - 3 May 2021