We expect further upside for IOI Properties Group given that it took out the 3-month downtrend line a few sessions ago. With the stock posting a white candle and pushing near its multi-year high, upward momentum may be present now. A bullish bias may emerge above the RM1.80 level, with stop-loss set at RM1.68, below the 50-day EMA. Towards the upside, near-term resistance level is seen at RM2.00, followed by RM2.10.

Entry : RM1.80–1.89

Target : RM2.00, RM2.10

Exit : RM1.68

Source: AmInvest Research - 12 Jan 2024

Stock Idea - We Expect Further Upside for Ioi Properties Group Given That It Took Out the 3-month Downtrend Line a Few Sessions Ago. With the Stock Posting a White Candle and Pushing Near Its Multi-year High, Upward Momentum May be Present Now. a Bullish Bias May Emerge Above the Rm1.80 Level, With Stop-loss Set at Rm1.68, Below the 50-day Ema. Towards the Upside, Near-term Resistance Level Is Seen at Rm2.00, Followed by Rm2.10.entry : Rm1.80–1.89target : Rm2.00, Rm2.10exit : Rm1.68