RHB Investment Research Reports

Trading Stocks - IJM Corporation

rhbinvest
Publish date: Fri, 13 Oct 2023, 09:55 AM
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An official blog in I3investor to publish research reports provided by RHB Research team.

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IJM Corporation is poised to extend its uptrend after rebounding above the 21-day SMA line and testing the MYR1.92 immediate resistance yesterday. Note, this stock has been consolidating sideways for the past three weeks – yesterday’s rebound signals a potential breakout. If the breakout occurs, the stock may climb towards the MYR2 mark, followed by the next resistance at MYR2.20. Conversely, a fall below the MYR1.81 support signals a reversal of the positive trend, as the counter’s price will trade below the SMA line and form a “lower low” bearish pattern.

Source: RHB Securities Research - 13 Oct 2023

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