Sector: Technology
Analysed on 08/08/21
Follow up on our previous analysis, JFTECH has finally break the resistance at RM1.440 after multiple attempts. JFTECH is currently trading at its immediate resistance of RM1.530, with immediate support at RM1.440. Should JFTECH break the resistance at RM1.530, it will challenge the next resistance at RM1.600.
JFTECH is on an uptrend, with both EMA25 and EMA50 sloping upward. There is also formation of higher highs and higher lows which further confirms the current uptrend rally. As ATE companies such as VITROX and MI have reported excellent quarter results and promising prospects, we believe that JFTECH, as a test sockets supplier, will also report a positive quarter report this month. Investor who is interested in JFTECH can take the support level as reference for entry point.
Reason to Monitor: Technical Breakout/ Bursa Technology Index Going Strong
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