JCY International Bhd (5161)

• JCY closed 2.2% or 1.5 sen higher to RM0.71 last Friday.

• From a technical perspective, share price is currently trading above key moving averages which is a good sign of buying momentum. Recent pull back from high of RM0.87 level provides a good entry opportunity and should buying interest persists, share price is expected to trend towards the RM0.80 level.

• As such, resistance levels are identified at RM0.80 (R1) and RM0.87 (R2).

• On the downside, support levels are seen at RM0.59 (S1) and RM0.50 (S2)

Source: Rakuten Research - 21 Sept 2020