JCY International’s buying interest is back after it broke out of the 2-month descending triangle pattern with a white candle a few sessions ago. Given that the 20-day and 50-day EMAs are starting to turn upwards, it may see additional strength in the near term. A bullish bias may emerge above the RM0.195 level, with stop-loss set at RM0.17, below the 50-day EMA. Towards the upside, the near-term resistance level is seen at RM0.225, followed by RM0.245.

Entry : RM0.195–0.205

Target : RM0.225, RM0.245

Exit : RM0.17

Source: AmInvest Research - 1 Nov 2023