IOI Properties Group bounced off from its low in its latest session with a hammer pattern. With a neutral RSI, the uptrend momentum may resume if it crosses the immediate resistance level of RM1.22 with higher trading volume. In this case, its shortterm target price will be RM1.30 followed by RM1.37. The support level is anticipated at RM1.15, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon rebound above RM1.22

Target: RM1.30, RM1.37 (time frame: 3-6 weeks)

Exit: RM1.15

Source: AmInvest Research - 23 May 2019