Jaya Tiasa is eyeing to extend the upside movement after staging a breakout on high volume. Yesterday, the stock closed above the MYR1.10 resistance to confirm a bullish setup. The trading volume is high, indicating the underlying bullish momentum is strong. Hence, expect a follow-through price action to test MYR1.17, followed by MYR1.25. On the other hand, a breach below the MYR1.03 support would negate the bullish setup.

Source: RHB Securities Research - 3 Oct 2024