JAG recovered to a three-month high of 39.5 sen on June 20 before retreating slightly to trade range-bound on consolidation. The trend ahead is pretty straightforward. A breach of the 40 sen barrier would signal the resumption of mending process, en route to the 50 sen mark. On the opposite, a crack of the 33.5 sen floor will drag prices down to the lower support of 29.5 sen.
MALAYAN Flour Mills penetrated the recent peak of RM1.69 to reach a two-year high of RM1.75 during intra-day session, triggering a breakout. The successful breakthrough would clear the way for more advances in the pipeline, with initial resistance expecting at the RM1.85-RM1.87 band. Stronger resistance is envisaged at the RM2-RM2.05 range while current support is resting at the RM1.64 level.
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