KUALA LUMPUR (June 8): JF Apex Securities said technical indicators are encouraging for Kumpulan Jetson Bhd.

In a technical stock pick note on Wednesday (June 8), the research house said Kumpulan Jetson gained 6.5 sen to 31.5 sen on Tuesday to break the 200-day moving average.

It said Tuesday’s gain broke the downtrend from 85 sen in May 2021.

“Technical indicators are encouraging as the RSI (reading at 75) has entered the overbought zone while the MACD has crossed above its signal line in the positive region.

“For the downside, we advise traders to cut loss if the price falls below the support of 20 sen, marked by its 50-day moving average,” it said.