Jaya Tiasa Holdings Bhd
has resumed an uptrend after crossing the RM1.37 resistance, which represented a recent trading high. Going by the current momentum, the share looks poised to return to a multi-year high at RM1.47.
Looking at the technical indicators, there is a promising outlook as the slow-stochastic has rallied to overbought conditions of 88 points, but continues to ascend.The 14-day relative strength index (RSI) remains robust at 69 points while the daily moving average convergence and divergence (MACD) histogram in on the verge of charting a positive bar, which would signal a return to a bullish trend.
Support for the share is pegged to RM1.23 and RM1.13.
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