Stock Picks of the Day: Jaya Tiasa Holdings, FM Global Logistics

Jaya Tiasa Holdings

According to RHB Research’s technical analysis report (Nov2), Jaya Tiasa is set to resume its rebound as it inched up and crossed above the immediate resistance level of MYR0.605 yesterday, printing a “White Marubozu” bullish candlestick on improved trading volume. If it manages to stay above that level, the bulls are expected to propel it further towards July’s high of MYR0.645, before testing the next resistance of MYR0.675. However, the bullish momentum may be reversed if it falls below the MYR0.555 support, forming a “lower low” bearish structure.

FM Global Logistics Holdings

This counter should be set to trend upwards further as it climbed above the immediate resistance of MYR0.565 on improved volume – printing a “higher high” bullish pattern with a “White Marubozu” candlestick. If it remains above the immediate resistance point, the stock may head for the MYR0.60 threshold, followed by MYR0.65. If it falls below the MYR0.54 support, the bullish momentum would be reversed, as it forms a “lower low” bearish pattern beneath the average line.

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