IOI Corporation has been consolidating range-bound during recent sessions. As the momentum indicator RSI has moved above 50%, there is a possibilibity it will break the immediate resistance of RM4.30, with a target price of RM4.47. On the downside, support price is anticipated at RM4.13 whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM4.30

Target: RM4.47 (time frame: 3-6 weeks)

Exit: RM4.13

Source: AmInvest Research - 22 Aug 2019