GoldenTurtle

CJCEN- Probably next ENCORP BHD

Long
MYX:CJCEN   CJ CENTURY LOGISTICS HOLDINGS BERHAD
We found out that CJCEN have similar chart pattern just like ENCORP BHD , and yet to have any strong interest from market.
After hitting bottom in March 2020 it reverse its share price downtrend until now.
Really steady uptrend, heavy volume traded on RM0.50
Volume profile distribution is natural.
Banker is getting upper hand in deciding price direction now.
As long as market sentiment keep steady, we expect rally even without any catalyst for this counter.
Entry: RM0.50~0.0.55
TP:RM0.70
Cut-loss RM0.45
Comment: 10% returns intraday. Market sentiment deteriorating evidenced by DJ futures and HSI futures.
Lower down our TP:RM0.60
Exit the counter before it is too late to run.