JCY International broke past resistance level RM0.46 with high trading volume during its latest session. Given that the RSI indicator pointing upwards, coupled with higher lows candlestick pattern, we think that the bullish momentum will continue to travel towards the next technical target prices of RM0.51 and RM0.53. The downside support is anticipated at RM0.42, whereby traders may exit on a breach to avoid the risk of a further correction
Trading Call: Buy on pullback RM0.46
Target: RM0.51, RM0.53 (time frame: 2-4 weeks)
Exit: RM0.42
Source: AmInvest Research - 16 Jul 2020
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