Jaya Tiasa is poised to extend the upside movement after staging a breakout from the key resistance. We observe that the stock broke past the MYR1 threshold on strong volume. The share price is moving higher in tandem with increasing volume, showing strong momentum is underway. Riding on the momentum, the stock should test the next resistance pegged at MYR1.10, followed by MYR1.15. If the stock falls below the MYR0.94 support, this will negate the bullish setup.

Source: RHB Securities Research - 22 Jan 2024