Friday, March 01, 2019
JAKS: Bullish Fadeout
I regret to advise that the Trading Buy call on JAKS was a washout. The stock dropped below the breakout level of RM0.60-0.62 yesterday. JAKS closed at RM0.56 yesterday.
Yesterday, JAKS announced its result for QE31/12/2018 after the market close. It reported a net loss of RM13 million after it booked in the forfeiture of the RM50 million performance bond by Star Media for the PJ development. For the result, you can go here.
Chart: JAKS's daily chart as Feb 28, 2019 (Source: malaysiastock.biz)