IJMLAND has been trading on a downtrend for the past 5 months. Yesterday, its share price surged by 10 sen or +3.0% to break out from the strong trend line resistance at RM3.30, and settled at RM3.40 on stronger daily trading volume. Current share price is well supported by all the SMAs, while MACD indicator has a positive crossover of the Signal line while both RSI and Stochastics indicators are hooking upwards, indicating the strong buying interests. We reckon that the share price could test its previous high resistance level of RM3.50 should the buying interests remain.

 

 

Source: Kenanga