BLD Plantation may climb after gapping above the 200-day MAV line. A purchase can be made if the stock stays above RM8.50, with a close below RM8.20 as stop-loss. The price target is the prior high of RM9.40, if the round figure at RM9.00 is broken. Failure to stay above RM8.50 could see the stock move sideways, with strong support seen at RM7.80.
IGB’s downside risk has increased after an unsuccessful attempt at breaking the RM2.30 resistance level. Traders can liquidate as long as the stock stays below RM2.30, with supports anticipated at RM2.20 and RM2.00. A close above RM2.30, however, may trigger off buying, with resistance seen at RM2.40, and a stronger one at RM2.45.
Source: RHB
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