RHB Retail Research
Trading Stocks - Jaycorp
Jaycorp has been consolidating sideways. It is ready to test the resistance level of MYR1.53. The share price has risen, in tandem with the higher trading volume. If it breaks out from the immediate resistance level, we believe that the uptrend will be resumed. If this happens, the momentum may test the next resistance level of MYR1.56, followed by MYR1.65. Meanwhile, a downward breach of the MYR1.44 support would negate this expectation.
Source: RHB Securities Research - 21 Dec 2020
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