Highlights / Stock Picks of the Day JCY International Berhad ("JCY")

Shares of hard-disk manufacturer JCY surged 7 sen,  ending at a three week high of 75 sen. The stock price had been battered in the past couple of months, losing more than half its value at its worst. On the overall, the
technical picture remains bearish although in the short term, there may yet be signs of life.  On the daily chart, the share price has formed a short term bottom at the 66 sen level, which is further reinforced by a series of
Doji candlesticks. In addition, the sharp upward move on Wednesday penetrated the 20-day SMA on high trading volumes, which suggests that a short term rebound may be on the cards. As it stands, the immediate
resistance level is a fair distance away at 89 sen  while the downside is likely to be limited at 66 sen.

Source: Kenanga