JHM Consolidation is attempting to continue the positive price action after breaking past the resistance on high volume. The counter jumped above the MYR0.48 resistance with a white candlestick last Friday, confirming the technical setup was bullish. We have observed the trading volume increasing in tandem with share price, showing a strong bullish momentum is in play. After the breakout, the stock is eyeing to test the MYR0.52 level, followed by MYR0.56. Conversely, falling below the MYR0.44 support may resume the correction phase.

Source: RHB Securities Research - 16 Dec 2024