AmInvest Research Reports

Stock on Radar - IOI Properties Group

Publish date: Tue, 20 Feb 2024, 11:21 AM
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OI Properties Group surged to its new multi-year high with a long white candle yesterday, which likely indicates the return of buying momentum. The stock also broke out from a 1-month bullish rectangle pattern, which coincided with rising EMAs, likely indicating that the near-term uptrend may persist. A bullish bias may emerge above the RM2.23 level with stop-loss set at RM2.08, below the 20-day EMA. Towards the upside, near-term resistance level is seen at RM2.50, followed by RM2.60.

Entry : RM2.23–2.29

Target : RM2.50, RM2.60

Exit : RM2.08

Source: AmInvest Research - 20 Feb 2024

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