JAKS Resources may rebound further, says RHB Retail Research

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KUALA LUMPUR (Jan 28): RHB Retail Research said JAKS Resources Bhd may rebound further after it tested RM1.39 support in its latest session.

In a trading stocks note today, the research house said with the 21-day SMA line edging upwards, this implies a positive outlook sentiment.

“A positive bias may emerge above the RM1.39 level, with an exit set below the RM1.39 threshold.

“owards the upside, the immediate resistance is at the RM1.51 mark. This is followed by the RM1.60 level,” it said.