IOI Properties Group has been range-bound during recent sessions. Higher trading volume was recorded in the latest session. With the momentum indicator RSI above 60%, there is a possibility it will break above the resistance price of RM1.20, and move towards a target price of RM1.27, followed by RM1.36. Support is anticipated at RM1.13, whereby traders may exit on a breach to avoid the risk of a further consolidation.
Trading Call: Buy upon breakout above RM1.20
Target: RM1.27, RM1.36 (time frame: 3-6 weeks)
Exit: RM1.13
Source: AmInvest Research - 12 Dec 2019
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Created by AmInvest | Nov 25, 2024