IOI Properties Group Bhd (IOIPG, 5249)

• IOIPG may extend its upward trajectory after breaking out from a bullish flag pattern. As the stockbounced off the 20-day EMA with a second consecutive white candlestick, further supported by the healthy crossover two weeks ago, the near-term bullish momentum appears to be gaining traction.

• We expect the rising momentum to steer the stock higher and test the next resistance at RM2.55 (R1)followed by RM2.70 (R2) in the near term.

• On the downside, stop-loss is set at RM2.09.

Source: Rakuten Research - 17 Oct 2024

To sign up for an account: http://bit.ly/40BNqKI

[Youtube Tutorial] Account Opening & Enable Foreign Equity: http://bit.ly/3I5Jzxo