Jati Tinggi Group Berhad

• JTGROUP may extend its upward trajectory after it gapped up from the falling wedge pattern yesterday. In view of the stock bouncing off the converging 20 and 50-day EMAs with a strong white candlestick coupled with improving trading volume, a golden cross is likely to be confirmed soon, indicating a strengthening bullish trend.

• We expect the rising momentum to steer the stock higher and test the next resistance at RM0.49 (R1) followed by RM0.55 (R2) in the near term.

• On the downside, stop-loss is set at RM0.38

Source: Rakuten Research - 19 Dec 2024

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