JHM

Sector: Technology

Analysed on 25/07/21

JHM closed slightly above the resistance at RM2.190 on Friday. The candlestick is showing a long upper shadow, which indicate that there are profit taking activities above RM2.20. Next week is crucial to confirm whether JHM can continue to stay above the previous resistance of RM2.180. Should JHM sustain above RM2.180, it will challenge the next resistance at RM2.280.

Overall, we are optimistic on JHM’s performance in mid and long term due to the good prospect as reported in The Edge Weekly last week. Both EMA25 and EMA50 are trending upwards but there are chances that share price could retrace for healthy correction. Any retracement to around RM2.080 is considered as healthy, and can be used as the reference for entry point.

Reason to Monitor: Technical Breakout / Good Prospects

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NOTT INVEST 

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