IHH Healthcare Berhad (IHH, 5225)

• We anticipate further upside for IHH given it surged to a new 52-week high and closed above thecritical resistance level yesterday. Following a strong breakout from its consolidation phase with a positive white candlestick supported by a bullish crossover of the EMAs in mid-August, the stock's bullish momentum appears to be gaining significant traction.

• We foresee the rising momentum to drive the stock higher and test the next resistance of RM6.60(R1) followed by RM6.75 (R2) in the near term.

• On the downside, stop-loss is set at RM6.07.
  

Source: Rakuten Research - 6 Sep 2024

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