Sunday 19 May 2024
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KUALA LUMPUR (May 13): RHB Retail Research said IJM Corporation Bhd is poised to resume its uptrend as it climbed above the 21-day average line on Thursday, eyeing to hit the RM1.85 immediate resistance.

In a trading stocks note on Friday (May 13), the research house said if the stock manages to surpass that level, the stock may propel towards the RM1.95 resistance, the highest point since September 2021, followed by the RM2.06 next resistance.

“If it falls below the support threshold of RM1.73, selling pressure may emerge as it sets to draw a 'lower low' bearish structure below the average line,” it said.

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