JHM consolidation is one of the dark horses technology stock listed in Bursa Malaysia which involved in the semiconductors industry (LED Component) Charting wise it is forming a break out from Head & Shoulder Pattern at 1.23 and giving a TP of 1.69.
On friday the share price surge for approximately 5% and close at current years peak which is 1.34 With the support for the volume surge and solid consensus estimate giving by analysis from investment bank with a TP of (1.75) is actually close to the TP of Head and Shoulder Pattern of 1.69
Therefore it might not be a form of surprise if the price surge to its previous all time high record around 1.6 - 1.7 range With a cut loss of 1.2 might be a safe bet.
Solely for education purpose without any buy or sell recommendation.
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