JCY International Bhd
(code: 5161) touched an intra-day high of 41 sen yesterday, suggesting it might bypass the immediate resistance in an attempt to resume an uptrend.
While the share price briefly rose past the 100-day simple moving average (SMA), this did not constitute a convincing breakout and onset of bullish momentum.
Investors should set their sights towards a breach of the 41-sen resistance further afield for an indication of further upsides.
In late April, the stock hit a recent high of 48.5 sen before it it entered into a steep correction that bottomed out on May 21.
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