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Thursday, January 12, 2017

JAKS: Next Upleg Has Begun

JAKS is a pipe-maker and one of 3 Malaysian companies that has secured an IPP contract to build a power plant in Vietnam. The other 2 companies are Toyo Ink and Teknik Janakuasa (a subsidiary of Malakoff).

On January 10, PublicInvest Research called a BUY on JAKS witha fair value of RM1.50 (here). This has prompted the stock to rally yesterday above its horizontal line at RM1.09.

If JAKS can stay above the resistance-turned-support of RM1.09, then JAKS could be a good trading BUY.


Chart 1: JAKS's daily chart as at Jan 11, 2017 (Source: Chartnexus)


Chart 2: JAKS's weekly chart as at Jan 11, 2017 (Source: Chartnexus)

Note:
I hereby confirm that I do not have any direct interest in the security or securities mentioned in this post. However, I could have an indirect interest in the security or securities mentioned as some of my clients may have an interest in the acquisition or disposal of the aforementioned security or securities. As investor, you should fully research any security before making an investment decision.

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