JAKS Resources may rebound higher, says RHB Retail Research

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KUALA LUMPUR (May 6): RHB Retail Research said JAKS Resources Bhd may rebound higher after it continued holding above the RM1.00 support.

In a trading stocks today, the research house said given that it has formed a long white candle above the rising 21-day SMA line, this means that the bullish sentiment has been enhanced.

“An upbeat bias may emerge above the RM1.08 level, with an exit set below the RM1.00 mark.

“Towards the upside, the immediate resistance is at the RM1.26 level, followed by the RM1.34 threshold,” it said.