Jaya Tiasa Holdings Bhd (JTIASA, 4383)

• JTIASA is poised for a potential bullish breakout from its six-month ascending triangle pattern,targeting to surpass the immediate resistance of RM1.00. As the stock hit a new 52-week high coupled with a bounced off from the 20-day EMA, a positive outlook can be expected here.

• In the event it breaks above the RM1.00 neckline, this will improve market sentiment and should liftthe stock towards the subsequent level of RM1.07 (R1), followed by RM1.15 (R2).

• On the downside, stop-loss is set at RM0.89, below 21 Dec’s low.

Source: Rakuten Research - 19 Jan 2024

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