• JCY rose 0.015 or 1.86% to RM0.325 yesterday.
• Share price has broken its long consolidation phase before retracing to test its support level. Chart-wise, it is forming a new base and remains firmly on an up-trend channel.
• Yesterday rise saw renewed buying momentum and share price may retest previous high of RM0.365 and possibly head towards RM0.40.
• From here, resistance levels are expected at RM0.36 (R1) and further to RM0.40 (R2).
• Conversely, downside support levels are expected at RM0.31 (S1) and RM0.29 (S2).
Source: Rakuten Research - 20 Feb 2020
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Created by rakutentrade | Aug 23, 2024