JAKS Resources may rise higher, says RHB Retail Research

TheEdge Mon, Jan 20, 2020 08:06am - 2 years View Original


KUALA LUMPUR (Jan 20): RHB Retail Research said JAKS Resources Bhd may rise higher after it breached above the RM1.40 threshold.

In a trading stocks note today, the research house said last Friday’s candle has sent the stock to its new 52-week high, thereby enhancing the bullish sentiment.

“A positive bias may emerge above the RM1.40 level, with an exit set below the RM1.33 threshold.

“Towards the upside, the immediate resistance is at the RM1.60 mark. This is followed by the RM1.70 level,” it said.

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