IGB Real Estate Investment Trust (5227)

• IGBREIT gained 3.09% or 6 sen to close at RM2.00 last Friday.
• Last Friday’s close sent the price to hit its all-time high on the back of higher than average trading volume. The long white candle coupled with upticks in RSI reinforced the positive momentum and hence we expect the buying interest to continue.
• From here, resistance levels are found at RM2.02 (R1) and to RM2.05 (R2).
• On the flipside, support levels are identified at RM1.94 (S1) and RM1.90 (S2).

Source: Rakuten Research - 5 Aug 2019