Regaining rising momentum, JAKS Resources is expected to rise

Tue, Jan 16, 2024

Broker: Public Investment Bank Research
Investment Recommendation: Technical Buy
Closing price: 18.50 sen (as of January 16)
Support level: 19 sen
Resistance level: 21 sen, 22.5 sen
Stop loss point: 17 sen

Today’s Stock Picks｜Regaining rising momentum, JAKS Resources is expected to rise

JAKS Resources (JAKS, 4723, Main Board Construction) stock price is regaining upward momentum and is expected to move higher in the near term, ushering in a technical rebound.

The stock price gradually fell from a high of 23.5 cents at the end of September 2023, and continued to hover between 18 and 18.5 cents from mid-December to the end of December. Then it gradually recovered and closed at 19.5 cents on Monday (15th).

The technical chart shows that the Strength Index (RSI) is at 56 points and has not yet reached the overbought state; the Moving Average Convergence and Divergence indicator (MACD) is moving towards a positive zone above its signal line, releasing a bullish signal.

The stock is expected to break through the first resistance level of 21 sen (7.6% upside) and then move towards the second resistance level of 22.5 sen (15.3% upside). However, if the stock falls below the support level of 19 sen, it is recommended to start placing stop losses at 17 sen.

In terms of performance, JAKS Resources achieved a net profit of RM7.15 million in the third quarter of fiscal year 2023, and a cumulative net profit of RM40.34 million in the first three quarters.

Yes I think so , force sell day after 3 days completed.
Btw, past two days, heavy volume in 0.16 - 0.18, and I see from TA, 0.18-0.21 gap should be closed anytime but unsure soon or later. To me, at current price is very good deal already to collect, oversold some more.

No worries,most of ppl bought much higher price than you from Nov 22 and now stochastic extremely oversold. so die die just hold

margin call and contra player just forced to sell.

thanks scib. easy money within one hour :)

still have downside. prev low is 0.115

only contra player can spoil the price further (force selling). Else, price is stable around current price and likely got technical rebound soon

Dont touch this kind of stock. Instead, focus on stoch oversold seabottom stock only that have not woken up yet

price heading to lowest ever. same like ECA. Welcome to bursa Malaysia..

0.535 still very high profit for those collected below 0.170 since mid 2022.

Another lesson for those who like to catch high.

No need to acah2 hero la buy high while operator keep throwing at low. Just CL and move on.

a lot other seabottom like reneuco nobody want, instead this speculative manipulative at sky high, a lot chaser and end up burnt.

0.835 is still very high price. only FOMO willing to chase

Room for downside still a lot. Those bought 15-25 cents still can enjoy more than 200% profit at current price.
Nobody forced you to enter at sky high (while a lot other seabottom stocks around), so every trader should be willing to bear consequences.

if LD 0.190, mostly all investor in loss. phew

OMG gaisssssss, break! :)))))

big block guys 8.5cents . let us watch broken or not

warrant 7.5 cents, mother 8 cents? whaaatt?

Seabottom stock if you want to enjoy huge profit later, just dont know when

This time, mother is laggard, son 6 cent, mother should at least almost double

@anisbin Alhamdulillah :) power of holding

some of us already made 100% profit. pehh no pullback at all

wow wow break 0.60,.. flyyyy... next to fly I predict JAKS

dormant still. once explode, will shoot up. Be ready all

Powerful.

Haha Medusa, whatever you wanna say, we made $ already. Scam/syndicate or not, as long we know when to enter and when to cabut still made profit what.
Your hatred does not cause any loss to us kikikiki.

looks like building strong support at 0.065 and 0.03 (wa). slowly accumulate and up is better, more stable.

Medusa :

Minetech got abang jo

Itronic got c2pid silentbodo

Do your math

Kikiki…
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where is medusa? run and hide under cave? kikiki

look at buying style now, it may shoot up all of sudden at anytime but I have no idea until what price. Patience is really paid now Hehehe

It was sky high, no one forced you to still enter yesterday.

OMG. Mayday mayday

@Medusa your mulut longkang must be came from your stingy dirty heart.

Better silent then nothing good to say. :)

look at the bigger picture chart,it may follow 200-300% return like in minetec and scable

look at the chart, one day Itronic will gain 200-300% like minetec

powerful scable, those who missed the boat, observe Itronic. Rich in few months ahead :)

Oversold gengs bought 785 - 820 still can earn a lot if throw at current price. Those trapped at peak, you had choice to buy during oversold but you entered only when overbought. Its your choice. Even worst, if you follow sifu "buy on breakout"

Severely overbought. A lot other entered low wanna take profit. Meanwhile a lot other oversold counter to look for. Choice is yours :)

please up slowly and steady. :)

Hold guys... Long term project :)

Unit bought at 0.220 :

13 dec : 17.2 million
14 dec : 13.6 million
Today up to 0935am : 10.4 million

Do you think this price not going anywhere up while you still wanna throw at 0.215? :)

Yesterday 17 mill unit bought at 0.220, today first half almost 13 mill. something big happening soon?

Reneuco never had consistent climbing. After 3-4 green candle, always will deep dive. I think only 10% made money, the other 90% loss

this reneuco usually once Profit taking, it will deep dive until seabed. so wait until 0.175 then only ride again.

ok. up a bit now

When Scib at 0.720, while reneuco 0.175 (while average price of issue is ONLY 0.1494).
Unbelievable
Does this mean this counter consider dead?

price at all time low now. yet, no operator money want to buy to push the price, only retailers.

sampah stock. with such new shares, how not to die?

Not sure, current price looks like rubbish, bigglove green or red, this one mostly red.

what happened to most of buying volume at 0.05 and 0.03 yesterday? what were they buying for?