IOI Properties Group Bhd
looks to be in danger of consolidation if its rebound fails to convincingly breach a stiff resistance tested on Monday.
On Monday, the stock hit an intra-day high of RM1.38, tentatively crossing the RM1.37 mark which serves as an immediate obstacle to the share price en route to its recent peak of RM1.41. Short of a positive breach of RM1.41, a sustained uptrend cannot be confirmed and puts the stock in danger of slipping into a consolidation phase.
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