IJM Corporation was charging higher and testing the immediate resistance level of RM2.33 during the recent session. If it can cross above the resistance, its next short-term target price will be RM2.50 followed by RM2.66. Meanwhile, it may lose momentum if it fails to cross the resistance. Support level is anticipated at RM2.17, whereby traders may exit on a breach to avoid the risk of a further correction.
Trading Call: Buy upon breakout above RM2.33
Target: RM2.50, RM2.66 (time frame: 3-6 weeks)
Exit: RM2.17
Source: AmInvest Research - 14 Jun 2019
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