Kenanga Research & Investment
Highlights / Stock Picks of the Day - IOI Corporation Berhad ("IOICORP”) – Not Rated
Looking at the chart, IOICORP seems to be approaching the uptrend support level (&50-day SMA) now having gained 4 sen to close at RM5.23 yesterday. Besides, the 100-day SMA line is poised to cross above 200-day line soon, which reinforces our upside bias. As the key indicator, i.e. Stochastic has shown some improvement recently (and downside seems limited now), trader may enter just above 20-SMA line for a safer bet while targeting RM5.70 as profit level. The immediate downside is likely to be seen at RM5.14.
Source: Kenanga
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