• Technical BUY with +21.4% potential return
• Last price: RM1.68
• Target price: RM1.89, RM2.04
• Support: RM1.50
• Stop-loss: RM1.49

BUY with a target price of RM2.04 and stoploss at RM1.49. Based on the daily chart, IOIPG formed a series of higher highs and higher lows to close higher at RM1.68 on yesterday’s movement. This is supported by an uptick in the RSI and a bullish crossover in the MACD and DMI, indicating that positive momentum would strengthen in the near term. Moving forward, we expect IOIPG to continue the upward movement toward the previous high of RM2.06.

Expected Timeframe: 2 weeks to 2 months.

Source: UOB Kay Hian Research - 12 Jul 2018