IOI Properties Group was testing the resistance price RM1.23 in its latest session. With RSI above 60%, a bullish bias may be present above this mark with a short-term target price of RM1.29 and
RM1.36. Meanwhile, it may continue moving sideways if it fails to cross the
RM1.23 mark in the near term. In this case, the downside support is anticipated at
RM1.16, whereby traders may exit on a breach to avoid the risk of a further correction
Trading Call: Buy upon breakout above
RM1.23Target:
RM1.29,
RM1.36 (time frame: 3-6 weeks)
Exit:
RM1.16Source: AmInvest Research - 31 Dec 2019