JCY International is showing signs of resuming its uptrend as it attempting to cross the immediate resistance level yesterday on high volume. Given the stock bounced off from its “triple bottom” (strong support) recently, this indicates a strong rebound ahead. If it manages to rise above the MYR0.47 immediate resistance level, the positive momentum is expected to propel the price towards the next resistance of MYR0.50, followed by MYR0.53. Inversely, if the support level of MYR0.44 is broken, a reversal trend would be anticipated.

Source: RHB Securities Research - 27 Apr 2021