On the daily chart, IHH HEALTHCARE BERHAD (IHH) is currently positioned favourably above the Moving Averages (MA), suggesting a persistent bullish trend. This sentiment is reinforced by the Relative Strength Index (RSI), which is slightly above the confirmation level, indicating ongoing bullish momentum. However, the Moving Average Convergence Divergence (MACD), which is just above the signal line, calls for further confirmation to assess the strength of this trend. The previous high at 6.47 acts as the nearest resistance and if IHH manage to surpasses this level, the next resistance is expected between 6.95 and 7.22. Conversely, if the momentum weakens, the nearest support levels are projected between 5.88 and 5.56. Our research house has a BUY call on IHH with a target price of RM7.17.
 

Source: BIMB Securities Research - 17 Jul 2024