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Quick take: Jadi rises 4% on technical buy

TheStar Mon, Oct 19, 2020 09:43am - 1 month ago

KUALA LUMPUR: Shares in JADI Imaging Holdings Bhd, which has been on an uptrend, continued to attract strong trading interest in early trade Monday.

The toner manufacturer rose 4.35%, or 0.5 sen to 12 sen, its highest in over a month, with 3.7 million shares traded.

PublicInvest Research has a technical buy on the counter.

The research house said should the resistance level of 12.5 sen be broken, it may continue to lift prices higher to subsequent resistance levels of 13.5 sen and 14.5 sen.

It added that Jadi’s first support level is at 10.5 sen while the second support level is at 9.5 sen. The third support level is at 8.5 sen.

In its report, PublicInvest said Jadi anticipated the demand for bulk toners in China to continue to surpass the rest of the markets globally.

The chemical toner production plant is anticipated to be completed in the second half of 2020, which is expected to position the group with favourable prospects in the toner manufacturing industry globally.

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JADI 0.115


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