IJM Land should rise further after the firm close yesterday. A purchase can be made above RM2.20, with a close below the level as a stop-loss. A conservative trader may wait until a close above RM2.35 before entering. The price targets are the Fibonacci level of the 2011-2012 correction at RM2.60 and RM2.80. Failure to break higher should see the continuation of the 10-month sideways move. Strong support is seen at RM2.00.
Source: OSK
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