JAKS Resources may rebound further after it tested the MYR0.53 support in its latest session. Last Friday’s white candle has engulfed the prior one to form a “Bullish Engulfing” pattern, implying a potential rebound. A bullish bias may appear above the MYR0.57 level, with an exit set below the MYR0.53 threshold. Towards the upside, the near-term resistance is at MYR0.655. This is followed by the MYR0.74 level.

Source: RHB Securities Research - 4 Mar 2019