Ikhmas Jaya Group crossed the resistance level of RM0.24 in its latest session as it continues to trend above the 21-day SMA. With a healthy RSI level, it may continue to move towards the next short-term target price of RM0.275. If it dips backs below RM0.24, expect a sideway consolidation movement. In this case, support price is anticipated at RM0.22, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy on uptrend continuation above RM0.24

Target: RM0.275 (time frame: 3-6 weeks)

Exit: RM0.22

Source: AmInvest Research - 24 Jul 2019