Seni Jaya Corporation Bhd (SJC, 9431)

• Share price closed 2.88% higher at RM2.50.

• SJC had a correction with lower volume near the uptrend line. Yesterday, it has formed a tweezer bottom pattern together with bullish engulfing candlestick, signalling potential upside.

• We also see a MACD golden cross in MACD indicator. Backed by upticks in its indicators, share price is poised to move above the uptrend support line.

• Resistance levels are identified at RM3.04 (R1) and RM3.33 (R2).

• On the flipside, support levels are pegged at RM2.34 (S1) and RM2.07 (S2).

Source: Rakuten Research - 19 Nov 2021