IGB REIT is attempting to climb higher after breaking past the resistance on strong volume. The REIT has charted a long white candlestick and surged past the MYR2.15 resistance, showing bullish momentum is underway. Riding on the momentum, it may continue to travel towards the next resistance at MYR2.25, followed by the MYR2.35 level. Meanwhile, falling below the MYR2.05 support will invalidate the bullish setup and kickstart the correction.

Source: RHB Securities Research - 23 Dec 2024