Saturday, July 4, 2015

Technical Analysis July 2015: JCY (5161)

JCY INTERNATIONAL BERHAD 

Observation from Chart:-

JCY forming descending triangle, retest strong support RM0.69 level.

Will it breakout the resistance?

Other indicator:-
MACD trade at negative region, downtrend sign.
Stochastic %K pending trigger BUY call.

If breakout the triangle resistance, it might be reversal trend
1st resistance, RM0.72
2nd resistance, RM0.75

If break strong support level, it might face selling pressure
next support @ RM0.65 level.

Let's watch closely...

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