• BURSA gained 27.0 sen (+4.20%) to close at RM6.70.
• Yesterday candlestick formed a long bullish candlestick after a period of consolidation, which could signify that the share has regained buying interest.
• Coupled with the above-average trading volume and uptick in key technical indicators, we believe the share could trend higher to its resistances at RM6.80 (R1) and RM7.10 (R2).
• Conversely, downside support can be identified at RM6.60 (S1) and RM6.40 (S2).
• Yesterday, IJM lost 5.0 sen (-2.07%) to end at RM2.36.
• Chart-wise, the share has been on a rally since May’19, which saw it trading above all of its key-SMAs.
• Nevertheless, we observed that key momentum indicators are coming off from their overbought areas, signalling a possible retracement.
• Expect the share to find its next support at RM2.11 (S1) and RM1.88 (S2).
• Conversely, resistance levels can be identified at RM2.53 (R1) and RM2.79 (R2).
Source: Kenanga Research - 25 Jun 2019
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2024-08-27
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IJM2024-08-27
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IJM2024-08-26
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IJM2024-08-23
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IJMCreated by kiasutrader | Aug 28, 2024
Created by kiasutrader | Aug 28, 2024