JCY International is attempting to continue the bullish trajectory, testing the immediate resistance on strong volume. The counter has been charting a series of “higher highs” and “higher lows”, which shows a strong bullish momentum is underway. In the event it breaks past the MYR0.53 resistance, this will attract fresh buying pressure. In this case, the momentum may propel it towards the next resistance at MYR0.58, followed by the MYR0.63 level. If the stock falls below the MYR0.48 support,this will dent market sentiment and kickstart a correction.

Source: RHB Securities Research - 26 Dec 2024