Friday 29 Mar 2024
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KUALA LUMPUR (Dec 14): AllianceDBS Research said Jaks Resources Bhd (Jaks) had on Dec 13 tested the RM1.50 hurdle before settling near the day’s high at RM1.49 (up 4 sen or 2.75%).

In its evening edtion yesterday, the research house said a crossover of the RM1.50 hurdle would likely see Jaks trading upward with the next upside target pegged between RM1.60 and RM1.65.

It said risk taking traders can establish a buying position at RM1.47 on a small pullback.

“Once a buying position is established, a stop loss at RM1.45 level must be placed for risk capital protection, and this RM1.45 is to be followed by a trailing stop loss strategy.

“If you are prepared to take a trading loss risk of RM20 (excluding brokerage) for RM1.30 – RM1.80 potential profit, you may acquire 1,000 shares with a capital amount of RM1,470 assuming buying order is filled at RM1.47,” it said.

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