Rakuten Trade Research Reports

Technical View - JHM Consolidation Berhad

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Publish date: Tue, 10 Jan 2023, 11:16 AM
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JHM Consolidation Berhad (JHM, 0127)

• Share price closed 8.33% higher at RM0.78 on Monday.

• JHM has been on the consolidation mode since November 2022 as it hovered near its MA 20 and MA 50 lines. It broke out from its resistance level of RM0.765 yesterday with higher buying interest. Coupled with a bullish MACD and indicators showing uptick momentum, share price is expected to move higher.

• Resistance levels are identified at RM0.78 (R1) and RM0.79 (R2).

• On the flipside, support levels are pegged at RM0.71 (S1) and RM0.70 (S2).

Source: Rakuten Research - 10 Jan 2023

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