JCY International is consolidating and has bounced higher to test the RM0.315 resistance level. With the RSI indicator pointing upwards, this shows that there is a possibility it may break out from the resistance level. If this happens, expect the bullish momentum to travel towards the shortterm target prices of RM0.33 and RM0.36. The downside support is anticipated at RM0.29, whereby traders may exit on a breach to avoid the risk of a further correction

Trading Call: Buy on breakout RM0.315

Target: RM0.33, RM0.36 (time frame: 2-4 weeks)

Exit: RM0.29

Source: AmInvest Research - 6 Jul 2020