RHB Retail Research
Trading Stocks - JAKS Resources
JAKS Resources bounced with higher trading volume, and closed above the resistance level of MYR0.88 yesterday. Notice that, since 9 Sep, the price formation has been showing a bullish posture of higher highs and higher lows. As such, we believe the bullish momentum will prevail. If it trades above the resistance level, expect it to test the next resistance level of MYR0.915, followed by MYR0.94. A downside breach of the MYR0.84 support point would nullify this expectation.
Source: RHB Securities Research - 21 Oct 2020
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