IOI Corporation Berhad is an investment holding company engaged in the cultivation of oil palm and processing of palm oil. It operates in five segments mainly plantation segment, property development segment, property investment and resource-based manufacturing segment The other operations segment is engaged in management and operation of hotels and resorts, landscape services.
i paper trade IOICORP at RM3.68 based on its technical and fundamental points.
From technical aspect, IOICORP is sitting on it upward-trending line. It is always better to buy a stock near it trend line. 25d MA is giving IOICORP a support
+DX indicator is pointing upward signaling uptrend is getting stronger. RSI is gaining too.
Stochastic is at around 30%, almost in the oversold region. Both redline and blue line are fight neutrally.
Trading volume is declining. This always happens when the stock is in consolidating phrase.
Although there is no confirmation from MACD, i paper trade IOICORP based on the fact international palm oil price did not manage to drop much although there is worry about the health of current world economy especially when US companies are starting to annouce their quarterly financial report.
Stop loss at RM3.44, Resistance at RM4.47.
Enjoy your trading. GOon
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