Tuesday, October 12, 2010

IOI Corporation Berhad : A Possible Breakout Rally Ahead… - 12/10/2010

IOICorp registered a bullish candle after congesting near RM5.60. The share price of IOICorp hit a stumbling block near RM5.60 in Mar 2010, after rallying for more than 16 months from a low near RM1.98. As it failed to penetrate the key RM5.60 hurdle, it turned into a sideways consolidation within a wide trading range from RM4.85 to RM5.60 thereafter. However, the share price has been trading on an uptrend lately, and the stock hit a high of RM5.65 recently. Following some congestion near RM5.60, it recorded a bullish candle and closed at RM5.58 on Monday.

IOI Corporation Berhad : A Possible Breakout Rally Ahead…-12/10/2010

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