JETSON’s technical picture looks attractive as the share price is gaining traction and is set to stage a multiple breakout above its 4-year uptrend resistance channel at around RM1.80. Fibonacci and Andrew’s Pitchwork resistances are @RM1.72. Yesterday, the share price gained 3.0 sen to close @RM1.70 in conjunction with positive indicators biased towards the upside. Hence, we suggest traders keeping an eye on JETSON for the upside breakout point before buying. Beyond that, the share price may potentially go up towards RM2.00 and RM2.24 next. Meanwhile, the underlying support is pegged at RM1.60 (100-day SMA).

 

Source: Kenanga