AmInvest Research Reports
Stocks on Radar - JHM Consolidation (0127)
AmInvest
Publish date: Mon, 26 Oct 2020, 10:00 AM
AmInvest
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All materials published here are prepared by AmInvest. For latest offers on AmInvest trading products and news, please refer to: https://www.aminvest.com/eng/Pages/home.aspx
Tel: +603 2036 1800 / +603 2032 2888
Fax: +603 2031 5210
Email: enquiries@aminvest.com
Office Hours
Monday to Thursday: 8:45am – 5:45pm
Friday: 8:45am – 5:00pm
(GMT +08:00 Malaysia)
JHM Consolidation surged and tested the RM1.90 resistance level. With its RSI indicator pointing upwards, coupled with higher trading volume, we see a possibility for a technical breakout. If this happens, we expect it to move towards the short-term target prices of RM1.99 and RM2.08. The downside support is projected at RM1.81. Traders are advised to exit on a breach to avoid further losses.
Trading Call: Buy on breakout RM1.90
Target: RM1.99, RM2.08 (time frame: 2-4 weeks)
Exit: RM1.81
Source: AmInvest Research - 26 Oct 2020
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