JayCorp rose and tested the RM1.70 resistance level. With its RSI indicator in an uptrend, coupled with a higher high candle stick pattern, we see a possibility for a technical breakout. If this happens, we expect it to move towards the short-term target prices of RM1.76 and RM1.78. The downside support is projected at RM1.62. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM1.70

Target: RM1.76, RM1.78 (time frame: 2-4 weeks)

Exit: RM1.62
 

Source: AmInvest Research - 5 Jul 2021