Bullish engulfing candle supported with uptrend line

The bullish engulfing pattern candle had been closed above the trend line and it is supported by higher volume than before. Moreover, it is appeared after a higher high and higher low with an increasing momentum.

In the fundamental view, JHM Consoidation Berhad are having about 60% of business in LED for automotive business. With the rebound in car sales, the company had been ramping up the production of LED to 4x on customers request.

From the market sentiment side, TESLA had just announced their quarter report that had been exceeded the expectation of the market, which is about 6.04 B of the revenue. Therefore,the company that had ventured in the LED services for the automotive business will be directly be in favored.


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