SENI JAYA CORP – In The Midst of Consolidation (Technical View)

SENI JAYA had been in the eye of investors for their known ability to ride on recovery in demand for Out-of-Home advertising (OOH). To date, SENI JAYA is maintaining well above the support level of RM2.400 but trailing below MA 20 & MA50. The MACD indicator also shows a consolidating pattern where the next direction for the company is still unknown at this stage. We urge investors to lookout for potential breakout above RM2.500 level if coupled with volume, which is a good sign as interests for the company is here.

Support: RM2.400

Resistance: RM2.560