JF Technology surged higher to test the RM3.44 resistance level with higher trading volume. Given that the RSI indicator is pointing upwards, coupled with a bullish white candlestick pattern, we think that the bullish momentum will continue to travel towards the short-term target prices of RM3.55 and RM3.65. The downside support is anticipated at RM3.24, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy on breakout RM3.44
Target: RM3.55, RM3.65 (time frame: 2-4 weeks)
Exit: RM3.24

Source: AmInvest Research - 22 Jul 2020