JF Technology Bhd (JFTECH, 0146)

• JFTECH closed 5.6% higher at RM1.50 on Monday.
• JFTECH has broken out from its consolidation phase to close above the crossover of MA20 and MA50. JFTECH is currently trading above all its key moving averages.
• There is also a MACD bullish crossover found in its MACD indicator. Backed by an uptick in RSI, we expect the buying momentum to continue.
• Resistance levels are identified at RM1.58 (R1) and RM1.64 (R2).
• On the flipside, support levels are pegged at RM1.44 (S1) and RM1.36 (S2).

Source: Rakuten Research - 28 Sept 2021