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NewsEye on stock: Jaya Tiasa
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Eye on stock: Jaya Tiasa
by Cals Mon 21 Dec 2015, 00:05
Saturday, 19 December 2015
JAYA Tiasa Holdings Bhd (Jtiasa, Code: 4383) fell to a near five-year low of RM1.06 on Aug 26 amid extended correction process due to persistent liquidation pressure.
Thereafter, prices fluctuated within a moderate band on bargain hunting interest alternated with profit-taking selling, undergoing consolidation.
Based on the daily chart, this stock appeared to have found the bottom or had corrected enough after a prolonged downtrend. While the price movements in the past several days indicated that the bulls may be making a fresh attempt to mend, further confirmation, such as a decisive penetration of the uppermost 200-day simple moving average (SMA) of RM1.43, must come about in order to convince more investors to participate.
From our analysis, the success rate is pretty high, with trading volumes improving significantly, suggesting interest in Jtiasa is building up apparently. Elsewhere, the oscillator per cent K and the oscillator per cent D of the daily slow-stochastic momentum index were on the rise. It had triggered a short-term buy at the bottom on Tuesday but was fast reaching the overbought area.
Mirroring the upward thrust, the 14-day relative strength index firmed from 20 on Monday to finish the week at the 72-point level yesterday. In addition, the daily moving average convergence/divergence histogram continued to expand positively against the daily trigger line to keep the bullish note. A buy signal was issued on Thursday.
Technically, indicators are painting an encouraging pictogram, implying Jtiasa shares are likely to advance in the immediate term on follow-through bargain hunting nibbling, with the potential of carving out a new leg of uptrend. A breach of the 200-day SMA of RM1.43, a relatively strong barrier, and accompanied by bigger volumes would signal a bullish turnaround, enroute the RM1.68 or the RM1.77-RM1.80 tough resistance band in the near term.
Initial support is resting at the RM1.13 level and the recent lows of RM1.06, also a crucial floor, will now act as a tentative base for recovery. — K.M. Lee
The comments above do not represent a recommendation to buy or sell.
Eye on stock: Jaya Tiasa
[You must be registered and logged in to see this image.]JAYA Tiasa Holdings Bhd (Jtiasa, Code: 4383) fell to a near five-year low of RM1.06 on Aug 26 amid extended correction process due to persistent liquidation pressure.
Thereafter, prices fluctuated within a moderate band on bargain hunting interest alternated with profit-taking selling, undergoing consolidation.
Based on the daily chart, this stock appeared to have found the bottom or had corrected enough after a prolonged downtrend. While the price movements in the past several days indicated that the bulls may be making a fresh attempt to mend, further confirmation, such as a decisive penetration of the uppermost 200-day simple moving average (SMA) of RM1.43, must come about in order to convince more investors to participate.
From our analysis, the success rate is pretty high, with trading volumes improving significantly, suggesting interest in Jtiasa is building up apparently. Elsewhere, the oscillator per cent K and the oscillator per cent D of the daily slow-stochastic momentum index were on the rise. It had triggered a short-term buy at the bottom on Tuesday but was fast reaching the overbought area.
Mirroring the upward thrust, the 14-day relative strength index firmed from 20 on Monday to finish the week at the 72-point level yesterday. In addition, the daily moving average convergence/divergence histogram continued to expand positively against the daily trigger line to keep the bullish note. A buy signal was issued on Thursday.
Technically, indicators are painting an encouraging pictogram, implying Jtiasa shares are likely to advance in the immediate term on follow-through bargain hunting nibbling, with the potential of carving out a new leg of uptrend. A breach of the 200-day SMA of RM1.43, a relatively strong barrier, and accompanied by bigger volumes would signal a bullish turnaround, enroute the RM1.68 or the RM1.77-RM1.80 tough resistance band in the near term.
Initial support is resting at the RM1.13 level and the recent lows of RM1.06, also a crucial floor, will now act as a tentative base for recovery. — K.M. Lee
The comments above do not represent a recommendation to buy or sell.
Cals- Administrator
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Join date : 2011-09-08
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d have been right perhaps as often as seven out of ten times.â€
Stock Exposure : Technical Analysis / Fundamental Analysis / Mental Analysis
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