IQGROUP’s share price has broken out from “Triangle” chart pattern resistance level of RM1.79. The share price surged by 19 sen and close at RM1.89. Positive reading from key indicators (MACD, Stochastics and RSI), coupled with share price is well supported by all SMAs, suggesting the bullish outlook ahead. Traders who look to buy in IQGROUP, should target to take profit 3 bids below our measurement objective of RM2.45 at RM2.42. Meanwhile, a protective stop-loss should also be placed at RM1.75.

 

 

Source: Kenanga