KJTS Group Bhd

• KJTS may trend higher after it surged to a new all-time high and broke out from a seven-week ascending triangle pattern yesterday. In view of the stock posting 5 consecutive white candles and is pulling further away from all the EMAs, further suggest that its bullish momentum is picking up.

• We expect the rising momentum is set to steer the stock to trend higher and test the next level of resistance of RM0.67 (R1), followed by RM0.70 (R2).

• On the downside, stop-loss is set at RM0.565, below the 20 days EMA.
  

Source: Rakuten Research - 15 Mar 2024

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