IOI's rebound could extend further after closing at its highest in almost three months. A position can be initiated above RM5.30, or otherwise above the psychological RM5.50, with a close below the recent low of RM5.15 as a stop-loss. The price target is RM6.10, with selling also expected at RM5.80. Failure to break RM5.50 likely sees it sideways and strong support is at RM4.90.
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