Rakuten Trade Research Reports
Technical View - Jaks Resources Bhd (JAKS, 4723)
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Publish date: Thu, 29 Jul 2021, 03:15 PM
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All materials published here are prepared by Rakuten Trade. For latest offers on Rakuten Trade products and news, please refer to: https://www.rakutentrade.my/
To sign up for an account: http://bit.ly/40BNqKI
Rakuten Trade
Hotline: +603 2110 7110 (Account Opening, General enquiry)
Email: customerservice@rakutentrade.my
• JAKS ended 4.0% or 2 sen higher to RM0.525 yesterday.
• The stock seems to have found its bottom after it rebounded from the low of RM0.46 and continued to climb higher with formation of “higher lows”. Meanwhile, the stock has also found its immediate strong support at RM0.50 level and is presently above short-term moving average line, implying the emergence of renewed buying interest.
• From here, resistance levels are expected at RM0.55 (R1) and next at RM0.60 (R2).
• Next supports levels are set at RM0.48 (S1) and RM0.46 (S2).
Source: Rakuten Research - 29 Jul 2021
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