IOI Properties Group attempted to break above its immediate resistance after jumping above the 21-day SMA line yesterday. Trading volume has been picking up lately, forming a higher low structure – indicating that the buying interest is gaining traction. If it manages to break above the immediate resistance level of MYR1.45, the bullish momentum may lift it towards the next resistance of MYR1.50, followed by MYR1.60.This trading set-up would be nullified if the MYR1.37 support is breached.

Source: RHB Securities Research - 1 Apr 2021