Jaya Tiasa Holdings Bhd (JTIASA, 4383)

• We believe buying interest in JTIASA is back after the stock broke out from its 6-month downtrendchannel, surpassing the immediate resistance at RM1.13. In view of the stock bounced off from both the EMAs, further supported by the bullish crossover, thus indicating more upside in the near term.

• We anticipate the rising momentum to steer the stock higher and test the next resistance at RM1.19(R1) followed by RM1.25 (R2) in the near term.

• On the downside, stop-loss is set at RM0.97.

Source: Rakuten Research - 7 Oct 2024

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