• JHM closed 2.3% or 2 sen higher to RM0.895 yesterday.
• Yesterday’s move indicates strong buying interest on the back of higher trading volume amidst the broad market weaknesses. Key momentum indicators are showing bullish bias, and we believe the buying momentum is likely to sustain, hence share price is set to move higher.
• From here, resistance levels are expected at RM0.99 (R1) and RM1.14 (R2).
• On the downside, support levels are seen at RM0.80 (S1) and RM0.70 (S2).
Source: Rakuten Research - 16 Jun 2020
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Created by rakutentrade | Jul 18, 2024