RHB Retail Research
Trading Stocks - JAKS Resources
JAKS Resources experienced a positive intraday price reversal on strong volume. This can be viewed as an early sign of the stock’s attempt at a rebound following its recent weeks’ correction. Should the stock breach above the MYR0.65 resistance, this would confirm the rebound phase, with subsequent resistance levels pegged at MYR0.68 and MYR0.715. A downside breach of MYR0.62 would negate this expectation.
Source: RHB Securities Research - 13 Jan 2021
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