KUALA LUMPUR (March 4): RHB Retail Research said Jaya Tiasa Holdings Bhd has formed a bullish setup after breaking past the resistance on strong volume.

In a trading stocks note last Friday, the research house said the counter jumped above the RM1.23 resistance to form a bullish candlestick.

It noted that the 21-day simple moving average line is pointing upwards, indicating that the underlying trend remains bullish.

“The counter should trend upwards and head for RM1.35, followed by RM1.48.

“Meanwhile, falling below the RM1.17 support will nullify the bullish setup,” it said.