IOI Properties Group surged past the RM1.15 resistance price in its latest session with higher trading volume. With the momentum indicator RSI above 60%, the short-term momentum could reach a target price of RM1.24, followed by RM1.36. If it dips below RM1.15, it will continue to move sideways and consolidate. Support is anticipated at RM1.06 whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy on continuation above RM1.15
Target: RM1.24, RM1.36 (time frame: 3-6 weeks)
Exit: RM1.06

Source: Kenanga Research - 14 Nov 2019