My Day to Day Analysis

Technical Analysis – Seni Jaya Corporation Berhad (9431)

Publish date: Sun, 17 Jul 2022, 05:10 PM

A sign of recovery of ADEX – advertising expenditure had arrived in town, and investors must include at least one media company in their portfolio. For me, Seni Jaya remains as the top pick due to their strong technical movement. Based on our studies, the SMA 20/50/100/200 is showing a consolidation pattern without indication of up or downtrend. We take this as a neutral sign for investors who wanted to accumulate their shares,  while the Bollinger Band is contracting too. The money flow index, however, shows a minor outflow of funds at the current juncture.

Overall, we take this as an accumulate phase for the company.

Support Level: RM2.500, RM2.450

Resistance Level: RM2.540, RM2.650

Be the first to like this. Showing 0 of 0 comments

Post a Comment