Nott Invest
JHM - Strong Technical Breakout
Nott_Invest
Publish date: Mon, 19 Jul 2021, 10:44 AM
Sector: Technology
Strong closing was seen for JHM on Friday, where the share price performed well and broke the resistance at RM2.080. JHM has been very strong since we first covered during the end of June, when the counter was only trading at RM1.890, and it has since gone through a crazy bull rally!
JHM is currently trading at RM2.130, with immediate support ay RM2.080 and immediate resistance at RM2.180. Overall, JHM still looks very strong, with the formation of higher highs pattern. Both EMA25 and EMA50 continue to trend upwards, which is also a strong indication of uptrend rally. Any retracement to RM2.080 is considered as healthy, and can be used as the reference for entry point. As JHM has gained about 12% within 3 weeks, we would advise to buy in batches for better risk management.
Reason to Monitor: Technical Breakout / Good Prospects
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