• IJM closed 1.06% higher at RM1.90 on Friday.
• There is a formation of cup and handle since 22 June. Recently, IJM broke out above its resistance of RM1.88 and is trading above all its key moving average line. Coupled with its bullish signal shown in MACD, there is a high possibility for the stock to challenge higher levels.
• Hence, resistance levels are identified at RM1.92 (R1) and RM2.06 (R2).
• On the contrary, support levels are pegged at RM1.88 (S1) and RM1.80 (S2).
Source: Rakuten Research - 30 Aug 2021
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IJMCreated by rakutentrade | Aug 23, 2024