JHM Consolidation Bhd (JHM, 0127)

• Share price closed 1.0% lower at RM1.96 on Monday.

• JHM is trending upward from 14 October onwards and closed above its moving average 20. We expect JHM is to form a rounding bottom since 8 Sept.

• Backed by upticks in its indicators, the share price is poised to move higher.

• Resistance levels are identified at RM2.00 (R1) and RM2.13 (R2).

• On the flipside, support levels are pegged at RM1.89 (S1) and RM1.81 (S2).

Source: Rakuten Research - 2 Nov 2021