SUBANG JAYA, 2 December 2020 - JAKS Resources Berhad’s (“JAKS” or “the Group”) has received confirmation today that the Vietnam authority has officially acknowledged that the first unit of its Hai Duong build-operate-transfer (“BOT”) thermal power plant has commenced operation on 24 November 2020 following the completion of the construction of the said unit. The second unit is scheduled for completion in the second quarter of 2021.
20200120 AFFIN HWANG CAPITAL TP: RM1.84 TRADING IDEA: BREAKOUT SEEN IN THIS STOCK! UPWARD MOMENTUM ANTICIPATED TO CONTINUE - BUY!
20200120 RHB Retail Research TP: RM1.6-1.7 Towards the upside, the immediate resistance is at the RM1.60 mark. This is followed by the RM1.70 level
20200115 Hong Leong TP: RM1.65 Trading buy call on jaks , TP 1.65.
DK66 TP RM2.5 will update time to time. I m very poor at market timing. I have no idea whether my TP 2.5 is achievable by 2020. But I know Unit 1 of the power plant in Vietnam will start operation in Mid 2020
OTB: Hope that the share price of Jaks will follow the same trend of MFCB.
Parabolic SAR is showing a buy signal in weekly chart, good signal. MACD buy signal appeared in weekly chart, both the Blue and the Red lines are above zero level to show a stronger momentum. This MACD buy signal shown will last for a long time. Look at the weekly chart, the chart pattern formed is "Cup And Handle Chart formation". The pivot line is 1.43. I dare not tell my slogan here.
Power operations may support earnings moving forward
The Hai Duong Vietnam EPC contract has been progressing well and the power plant is reaching the completion stage (2Q19: c.82% vs. 1Q19: 70%) and likely to be commencing by mid-2020. Although its construction orderbook is declining and the property segment is slowing down, should the Hai Duong Vietnam power start operation by 2H2020, it should be able to support its earnings moving forward. Technically, JAKS could poise for a symmetrical triangle breakout, targeting RM1.43-1.50, with a LT TP of RM1.65, while support is located around RM1.21-1.23, with a cut loss set around RM1.15.