JCY International is moving higher, touching the RM0.555 resistance level. With the RSI indicator pointing upwards, coupled with higher trading volume, we think that the bullish momentum will continue to travel towards the shortterm target price of RM0.595 followed by RM0.645. In this case, the downside support is marked at RM0.505, whereby traders may exit on a breach to avoid the risk of a further correction
Trading Call: Buy on breakout RM0.555
Target: RM0.595, RM0.645 (time frame: 2-4 weeks)
Exit: RM0.505
Source: AmInvest Research - 4 Aug 2020
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