Yesterday, JHM gained 8.0 sen (+6.84%) to close at RM1.25.
Technically, the share has been on a downtrend for the past several months. However, recent technical outlook has started to improve with the underlying trend turning positive since the mid-last month. Key SMAs are in a ‘Golden Cross’ state and key momentum indicators continue to show positive signals.
Expect JHM to test its resistance of RM1.30 (R1) and RM1.40 (R2) should the first resistance be taken out.
Conversely, support levels can be identified at RM1.22 (S1) and RM1.17 (S2).
GTRONIC (Not Rated)
Yesterday, GTRONIC gained 6.0 sen (+2.32%), to close at RM2.65.
Technical outlook is seemingly positive after the share bottomed-out early April, transitioning into a bullish uptrend.
Momentum indicators appear encouraging as displayed by the MACD above Signal-line, minor upticks in RSI and Stochastic as well as key SMAs remain in “Golden Cross”.
Once RM2.70 (R1) is taken out decisively, expect a possible retest at the RM3.00 (R2) psychological resistance level.
Downside risk is identified at the support level at RM2.50 (S1) where a break below would trigger a capitulation, with the share seeing a lower support at RM2.45 (S2).
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....