Sector: Technology

Analysed on 15/08/21

JHM has retraced this week following the uncertainty arisen from the political instability and high covid cases. Big sell down happened for the past few days which saw the share price dropped all the way to close at RM2.170 from its recent high of RM2.440. JHM is currently trading below EMA25, indicating that the recent upward momentum has turned weak. The candlestick on Friday is showing a long lower tail suggests that JHM could have found the support around EMA50.

Despite of the weak performance by JHM this week, we are still confident of JHM prospects in mid and long term. However, in view that the current market is extremely volatile, investors are advised to exercise cautious should JHM drops below EMA50.

Reason to Monitor: Retracement to Support Level.

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NOTT INVEST 

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