JCY (5161) - JCY Flag Breakout - Playing Catch Up With NOTION & DUFU?
JCY (5161): Bullish
Pattern: Broke Out From The Bullish Flag
JCY broke out from the bullish flag today as shown in the daily chart below:
JCY has broken out from the long-term downtrend line (as marked in green) in Jan 2017. After the significant run from 0.50 to 0.65, it started to consolidate and form a bullish flag.
Today, JCY just broke out from the flag and is heading to 0.80. This immediate target price (TP) of JCY also coincides with the overhead resistance as marked in red and the weekly downtrend line (refer to the weekly chart below).
If JCY can break out from the weekly downtrend line, it will be heading to 1.20 as the second TP.
The pace for NOTION & DUFU is a lot faster than JCY. Let's see if JCY will catch up with them in this up wave.
The sentiment in the BURSA market is certainly RED HOT, with daily volume fluctuates between 2.x-3.x billion. Having said that, a stop loss is essential for all trades to protect your downside.
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Cheers,
Ming Jong
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JCY (5161) - JCY Flag Breakout - Playing Catch Up With NOTION & DUFU?
http://klse.i3investor.com/blogs/candlestick/118172.jsp
