Jobs may be testing its all-time high of RM2.07

Jobs is a stock that I've recommended in December last year (go here). The stock has risen only marginally since then. From the weekly chart, you can see that Jobs is in a medium-term uptrend line, with support at RM1.75/80. At the same time, its advances have been blocked by a short-term downtrend line, with resistance at RM1.95. Today, Jobs has broken above that short-term downtrend line as well as poised to test the all-time high of RM2.07. This is a bullish development, but volume is definitely lacking to confirm this breakout. Let see whether the volume can come in tomorrow. If so, Jobs could be a good trading BUY. Remember to set a SELL STOP at the breakout level of RM1.95.


Chart: Jobs' weekly chart as at June 8 (courtesy of Quickcharts)

This is strictly a technical call without any consideration of the company's financial performance & position.