JAKS Resources formed a while candle after it tested the support mark of MYR0.505 in the recent sessions, which is also located near the 30-day SMA line. This indicates that the bulls are probably returning after the recent consolidation phase. Towards the upside, the resistance is expected at MYR0.60, followed by MYR0.65. Traders may exit upon the downside breach of the MYR0.505 support mark.

Source: RHB Securities Research - 8 Feb 2019