JHM Consolidation Berhad (JHM, 0127)

• Share price closed 2.67% higher at RM0.77 on Tuesday.

• JHM rebounded from its support level and broke out from its resistance level of RM0.745 yesterdaywith solid buying interests for the past 2 trading days. 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 RM0.805 (R2).

• On the flipside, support levels are pegged at RM0.73 (S1) and RM0.715 (S2).

Source: Rakuten Research - 12 Jul 2023

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