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Possible for upside in Jaks Resources, says PublicInvest Research

TheEdge Tue, Jun 25, 2019 08:59am - 5 months ago

KUALA LUMPUR (June 25): PublicInvest Research said Jaks Resources Bhd is staging a potential recovery from its sideways channel.

In a trading ideas note today, the research house said improving RSI and MACD indicators currently signal reasonable entry level, with anticipation of continuous improvement in both momentum and trend in near term.

“Should resistance level of 79 sen be broken, it may continue to lift price higher to subsequent resistance level of 85 sen.

“However, failure to hold on to support level of 75 sen may indicate weakness in the share price and hence, a cut-loss signal,” it said.

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