Nott Invest
JHM - Looking Strong Despite Weak Market Sentiment
Nott_Invest
Publish date: Mon, 05 Jul 2021, 10:54 AM
Sector: Technology / Automotive
Following our analysis on JHM last week, the counter has out-performed the weak KLCI index and recorded gain of around 8%!!
JHM broke the resistance of RM1.950 with surged volume on Friday. JHM is currently trading at RM2.020, with immediate support at RM1.950 and immediate resistance at RM2.080. Both EMA25 and EMA50 are trending upwards, which indicate an uptrend rally. Golden Cross (EMA25 moves above EMA50), which we are expecting to occur very soon, will be a further confirmation that JHM is currently on an uptrend.
Buying JHM now could be slightly risky due to the surged volume on Friday. The immediate support of RM1.950 can be used as reference for entry point.
Reason to Monitor: NASDAQ breaking new high / Good Prospect
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