KUALA LUMPUR (July 1): RHB Retail Research said JHM Consolidation Bhd has been developing a sideways consolidation pattern over the past week and a half.
In a trading stocks note today, the research house said this is a healthy development following the stock’s prior sharp upward move.
“Towards the upside, a breakout from the RM1.43 resistance could mark the extension of its uptrend.
“The subsequent resistance levels are at RM1.53 and RM1.60. A stop-loss can be set below RM1.33,” it said.