Johor Plantations is attempting to set off a counter-trend rebound after undergoing a positive price action. The counter charted a bullish candlestick with long lower shadow on Friday, showing the bullish momentum is gaining traction again. If it climbs above the MYR1.16 resistance, a bullish bias will emerge. In this case, fresh buying momentum may propel it towards MYR1.24, followed by the MYR1.30 level. On the downside, if the stock breaches the MYR1.11 support, this will resume the correction phase.

Source: RHB Securities Research - 13 Jan 2025