Jaks Resources Bhd (JAKS, 4723)

• Share price closed 3% higher at RM0.345 on Monday.

• JAKS had been breaking above its cup and handle formation yesterday to close above its MA20 and for the first time saw a Bollinger Band breakout yesterday.

• Coupled with its bullish signal in MACD and upticks in its indicators, its share price is poised to move higher.

• Resistance levels are identified at RM0.380 (R1) and RM0.420 (R2).

• On the flipside, support levels are pegged at RM0.335 (S1) and RM0.300 (S2).

Source: Rakuten Research - 5 Apr 2022