Jaya Tiasa set to resume rebound, says RHB Retail Research

TheEdge Wed, Nov 02, 2022 07:36am - 1 year View Original


KUALA LUMPUR (Nov 2): RHB Retail Research said Jaya Tiasa Holdings Bhd is set to resume its rebound as it inched up and crossed above the immediate resistance level of 60.5 sen yesterday, printing a “White Marubozu” bullish candlestick on improved trading volume.

In a trading stocks note today, the research house said that if the stock manages to stay above that level, the bulls are expected to propel it further towards July’s high of 64.5 sen, before testing the next resistance of 67.5 sen.

“However, the bullish momentum may be reversed if it falls below the 55.5 sen support, forming a “lower low” bearish structure,” it said.

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