IOI Properties (IOIPG | 5249)
Last Price: RM2.25 | Technical Call: BUY
Support 1: RM2.20 | Resistance 1: RM2.40 |
Support 2: RM2.06 | Resistance 2: RM2.55 |
Shariah Compliant: No | Sector: Property |
IOI Properties may trend higher after it surged to a 3-month high and closed above the RM2.20 resistance yesterday. The stock also posted two positive candles in a row and broke out of the 3-week bullish flag pattern, likely suggesting that upward momentum is picking up further. A bullish bias may emerge above the RM2.20 level with stop-loss set at RM2.04, below the 50-day EMA. Towards the upside, near-term resistance level is seen at RM2.40, followed by RM2.55.
Entry: RM2.20-2.25
Target: RM2.40, RM2.55
Exit: RM2.04
Source: AmInvest Research - 9 Oct 2024
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