JCY International is set to move higher after undergoing a technical breakout above the immediate resistance of MYR0.20 or a strong consolidation phase. If the bullish momentum is sustained, the stock is likely to trend higher towards the YTD high of MYR0.225, followed by MYR0.29. Conversely, a decline below the MYR0.175 support signals a reversal of the positive trend, as the counter will trade below the SMA line and form a “lower low” bearish pattern.

Source: RHB Securities Research - 27 Oct 2023