JHM Consolidation jumped and tested the RM2.08 resistance level. With its RSI indicator in an uptrend, coupled with a 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 RM2.19 and RM2.28. The downside support is projected at RM1.95. Traders are advised to exit on a breach to avoid further losses.
Trading Call: Buy on pullback RM2.08
Target: RM2.19, RM2.28 (time frame: 2-4 weeks)
Exit: RM1.95
Source: AmInvest Research - 7 Sept 2021
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