RHB Investment Research Reports

Trading Stocks - IOI Properties Group

Publish date: Wed, 08 May 2024, 10:28 AM
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IOI Properties Group is set to resume its uptrend after climbing above the 21-day SMA line, surpassing the MYR2.22 immediate resistance level. A bullish bias above that level may drive the stock higher towards the recent high of MYR2.36, followed by MYR2.50. However, falling below the MYR2.10 support would reverse the momentum, as it would be trading below the SMA – thereby forming a “lower low” bearish structure.

Source: RHB Securities Research - 8 May 2024

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