IJM Corporation Bhd (IJM, 3336)

• Share price closed 0.7% higher at RM1.51 on Tuesday.

• IJM has rebounded from oversold region and trended higher since end of January. It traded above its MA 20 & MA 50.

• Backed by upticks in its indicators and bullish signal from MACD indicator, IJM is poised to move higher.

• Resistance levels are identified at RM1.55 (R1) and RM1.60 (R2).

• On the flipside, support levels are pegged at RM1.48 (S1) and RM1.41 (S2).

Source: Rakuten Research - 23 Feb 2022