JAKS Resources may climb higher after hitting its highest close in more than three months. This can be viewed as a continuation of the bulls extending the rebound from 1 March’s “Bullish Engulfing” pattern. A bullish bias may emerge above the MYR0.655 level, with an exit set below the MYR0.53 threshold. Towards the upside, the immediate resistance is at MYR0.78. This is followed by the MYR0.87 level.

Source: RHB Securities Research - 7 Mar 2019