Johor Plantations Group Bhd (JPG, 5323)

• JPG has been trading in an upward channel since its listing. We believe it may continue to trendhigher if it breaks through the RM1.00 mark. Given the improving volume, we expect the bullish momentum may resume. A healthy EMAs are spotted along the way thus indicating further upside in the near term.

• We expect the rising momentum to steer the stock higher and test the next resistance at RM1.00 (R1)followed by RM1.05 (R2) in the near term.

• On the downside, stop-loss is set at RM0.94.
  

Source: Rakuten Research - 4 Oct 2024

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