IOI Properties Group (5249) IOI Properties Group surged and tested the RM1.30 resistance level. With its 21-day moving average in an uptrend, coupled with a higher trading volume, we see a possibility for a technical breakout. If this happens, we expect it to move towards the short-term target prices of RM1.36 and RM1.39. The downside support is projected at RM1.22. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy near RM1.30

Target: RM1.36, RM1.39 (time frame: 2-4 weeks)

Exit: RM1.22
 

Source: AmInvest Research - 8 Sept 2021