KUALA LUMPUR (Dec 31): RHB Retail Research said JAKS Resources Bhd may rebound higher after it continued holding above the RM1.18 support.

In a trading stocks note today, the research house said as the stock rose above the 21-day SMA line, this indicates a positive sign.

“A positive bias may emerge above the RM1.25 level, with an exit set below the RM1.18 threshold.

“Towards the upside, the immediate resistance is at the RM1.37 mark. This is followed by the RM1.43 level,” it said.