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:
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