AmInvest Research Reports
Stock on Radar - IOI Properties (IOIPG)
AmInvest
Publish date: Wed, 09 Oct 2024, 09:51 AM
AmInvest
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All materials published here are prepared by AmInvest. For latest offers on AmInvest trading products and news, please refer to: https://www.aminvest.com/eng/Pages/home.aspx
Tel: +603 2036 1800 / +603 2032 2888
Fax: +603 2031 5210
Email: enquiries@aminvest.com
Office Hours
Monday to Thursday: 8:45am – 5:45pm
Friday: 8:45am – 5:00pm
(GMT +08:00 Malaysia)
IOI Properties (IOIPG | 5249)
Last Price: RM2.25 | Technical Call: BUY
| Support 1: RM2.20 | Resistance 1: RM2.40 |
| Support 2: RM2.06 | Resistance 2: RM2.55 |
| Shariah Compliant: No | Sector: Property |
IOI Properties may trend higher after it surged to a 3-month high and closed above the RM2.20 resistance yesterday. The stock also posted two positive candles in a row and broke out of the 3-week bullish flag pattern, likely suggesting that upward momentum is picking up further. A bullish bias may emerge above the RM2.20 level with stop-loss set at RM2.04, below the 50-day EMA. Towards the upside, near-term resistance level is seen at RM2.40, followed by RM2.55.
Entry: RM2.20-2.25
Target: RM2.40, RM2.55
Exit: RM2.04
Source: AmInvest Research - 9 Oct 2024
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