JCY International climbed to a three-year high of 91.5 sen on Nov 19 before reversing slightly undergoing correction. The trend going forward is pretty simple.
While the prevailing trend still is bullish, a clear penetration of the recent high of 91.5 sen barrier would signal the resumption of a rally, enroute to challenge the upper strong hurdle of RM1.07 or the greater resistance of RM1.25-RM1.26 band in the immediate term. On the opposite, a breach of the of 80 sen mark may see further downside risks and in this case, the lower 75.5 sen floor will be much weaker.
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