JAKS Resources (KLSE: 4723): 18 November 2019

JAKS Resources (KLSE: 4723):

18 November 2019
(Click on the Technical Chart Above to Expand)

Attached is the updated Technicals on JAKS Resources (KLSE: 4723).
It has formed a massive accumulation and re-accumulation of TRIPLE BOTTOM / INVERSE SHOULDER-HEADER-SHOULDER. The accumulation and re-accumulation is done by extreme shakeout of weak holders (characteristics of triple bottom and inverse shoulder-head-shoulder). Based on technical price structure, the projected price action is illustrated in black. Resistances will break and supports will hold.
Bullish Biased on this power supply utility company

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JAKS: 4 February 2018, Sunday, 11.59pm Singapore Time

JAKS: 

4 February 2018, Sunday, 11.59pm Singapore Time

(Click on Technical Chart above to Expand)

Attached above is the technicals for JAKS Resources, a company that is listed in the KLSE. The Dark Orange Circled region is the High Volume Fake Gap-Down Region which shows enormous buying. This is a deliberate price rejection of a big gap-down with sharp price action rebound and high volume flow. This is very bullish in nature. The entire major big wave of price rejection ended at 1.79 with explosive and deliberated volumes. 3.58 is the next target of this entire wave of price-rejection price actions. The 2nd set of fake gap-down is indicated by Yellow Region. The Trinity of backtests as indicated double confirm the resumption of big uptrend. There had been no selling interest among the big hands based on volume flow in Red. The buying interest with market absorption of sellings are indicated in the volume flow in Green. It is a signal of intention to rally strongly. JAKS has broken up milestone mark at 1.79 with high volumes. Bullish intentions. Buy on dips on Monday 5 February 2018.

Based on volume flow and price actions, JAKS' next target is at least 3.58 representing an upside of at least +100% from here.

The Donovan Norfolk Technical Rating:

Very Bullish
(Strong Buy)
(JAKS To Continue To Set Historical Highs Never Seen Before)

(JAKS Expected to rally for the rest of 2018 and into 2019)

Additional Note:
Malaysia-KLSE equities are available for trading and investing in Singapore.
KLSE stocks are much higher beta than Singapore SGX in general and offers tremendous potential when they go up, because KLSE is a market with very high-beta rallies when they do rally.

Donovan Norfolk Ang