JAYCORP recently acquired 100% of the issued and paid-up share capital of Jaycorp Properties Sdn Bhd. This comes as positive news as it enables JAYCORP to venture into property investment and development opportunities. JAYCORP has broken out of its resistance of RM0.74 with strong volume, hence confirming a ‘bullish pennant’ which indicates a continuation of its prior uptrend. Key indicators (MACD, Stochastic and RSI) are also hooking upwards, further supporting the bullish movement ahead. Traders who look to buy into the stock should aim to take profit at the measurement objective of RM0.92, while employing a stop-loss at RM0.71.

 

Source: Kenanga