IJM Corporation was testing the RM2.22 resistance level in its latest session. With the RSI level at 70, a bullish bias may be present above this point with a target price of RM2.36, followed by the next target price of RM2.49. Meanwhile, it may turn sideways if it fails to cross the RM2.22 mark in the near term. In this case, support is anticipated at RM2.09 whereby traders may exit on a breach to avoid the risk of a further correction.
Trading Call: Buy on further rebound above RM2.22
Target: RM2.36, RM2.49 (time frame: 3-6 weeks)
Exit: RM2.09
Source: AmInvest Research - 1 Apr 2019
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