JCY International is expected to propel higher after it climbed above the MYR0.235 immediate resistance on strong trading volume – printing a “White Marubozu” bullish candlestick. If it manages to stay above that level, the positive momentum may accelerate towards the immediate resistance of MYR0.28, followed by the next resistance at MYR0.325. In the event it falls below the MYR0.21 support, this expectation would be cancelled.

Source: RHB Securities Research - 9 Jan 2024