JAKS Resources surged past the resistance price of RM0.785 in its latest session with higher trading volume. With the momentum indicator RSI above 60%, the short-term momentum could reach a target price of RM0.865, followed by RM0.905. If it dips below RM0.785, it will continue to move sideways and consolidate. The support price is anticipated at RM0.735 whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy on continuation above RM0.785

Target: RM0.865, RM0.905 (time frame: 3-6 weeks)

Exit: RM0.735

Source: AmInvest Research - 9 Oct 2019