share_log

Stock Picks: JCY International And Life Water

Business Today ·  Dec 26, 2024 08:02
big

RHB Investment Bank Bhd (RHB Research) reports strong bullish momentum for JCY International and Life Water, with both stocks exhibiting positive technical patterns.

JCY International is testing the immediate resistance level at RM0.53, supported by a series of "higher highs" and "higher lows." A breakout above RM0.53 is expected to attract fresh buying pressure, potentially driving the stock to RM0.58 and RM0.63. However, a drop below RM0.48 could reverse this trajectory and initiate a correction.

Life Water, meanwhile, has staged a bullish breakout, closing above the RM0.90 resistance level on high volume. The stock is poised to advance towards RM0.955, with a potential further rally to RM1.03. A fall below the RM0.85 support level, however, could lead to a correction.

RHB Research maintains an optimistic outlook on both counters, contingent on maintaining their respective support levels.

Share this:

  • Facebook
  • X
Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
    Write a comment