IJM Corporation has been range-bound during recent sessions. With the momentum indicator RSI rising, there is a possibility it will break above the resistance of RM2.23, and move towards a target price of RM2.36 followed by RM2.41. Meanwhile, the immediate support is anticipated at RM2.14, whereby traders may exit on a breach to avoid the risk of a further correction.
Trading Call: Buy upon breakout above RM2.23
Target: RM2.36, RM2.41 (time frame: 3-6 weeks)
Exit: RM2.14
Source: AmInvest Research - 5 Nov 2019
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