Wednesday 29 Nov 2023
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KUALA LUMPUR (Nov 14): RHB Retail Research said JF Technology Bhd is eyeing a bullish reversal as it was poised for a breakout above the 66 sen level last Friday (Nov 11), after bouncing off the 21-day average line and hitting that spot, on higher trading volume.

In a trading stocks note on Monday, the research house said that if a breakout above that level happens — forming a “higher high” bullish structure above the average line, it expects the bulls to push the stock towards 75.5 sen or Sept 13’s high, followed by Aug 15’s high of 82 sen.

“Conversely, the bullish momentum may be reversed if it drops below the strong support of 61.5 sen, forming a 'lower low' bearish structure below the average line,” it said.

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