Jaya Tiasa Holdings is set propel northwards as it bounced off the 21-day average line and breached the MYR0.65 level on high trading volume yesterday – closing with a “higher high” bullish pattern. The bullish bias above that level may bring the stock higher towards MYR0.68 – 1 Aug 2022’s high – before propelling upwards towards MYR0.71, or 14 Jun 2022’s high. However, the counter may move downwards if it drops below the MYR0.62 support, heading to print beneath the 21-day average line.

Source: RHB Securities Research - 4 Jan 2023