RHB Research: Trading Stocks to Look Out- Berjaya Food, IJM Corporation, ACME Holdings, Bank Islam Malaysia

In its retail research trading stocks analysis, the research house recommended the abovementioned 4 stocks for trading play.

Berjaya Food

Berjaya Food is set to propel towards uncharted territory after bouncing off the 21-day average line while breaching the
MYR4.04 resistance – coupled with higher trading volume. The immediate-term bullish momentum should propel the stock to
mark a new high at MYR4.20, before recording another new high at MYR4.40. However, the positive momentum may
dissipate if it falls below the MYR3.70 threshold, trading below the average line.

IJM Corp

IJM Corporation is poised to resume its uptrend as it climbed above the 21-day average line yesterday – eyeing to hit the
MYR1.85 immediate resistance. If it manages to surpass that level, the stock may propel towards the MYR1.95 resistance –
the highest point since Sep 2021, followed by the MYR2.06 next resistance. If it falls below the support threshold of MYR1.73, selling pressure may emerge as it sets to draw a “lower low” bearish structure below the average line.

ACME Holdings

ACME Holdings is eyeing to resume its uptrend movement as it attempted to break past the recent sideways consolidation
phase of MYR0.27 on strong volume. If it manages to surpass that level, an uptrend momentum could be established to inch
the stock higher towards the recent high of MYR0.285, then the MYR0.30 threshold. Conversely, the current sideways
movement may turn downwards if it falls below the MYR0.25 support, below the 21-day average line.

Bank Islam Malaysia

Bank Islam Malaysia is poised to demonstrate a counter-trend rebound as it bounced off the 21-day average line while
attempting to hit the MYR3.00 consolidation phase. If it manages to surpass that consolidation level, the stock is set to
rebound stronger towards the MYR3.11 resistance, followed by the MYR3.19 next resistance. Meanwhile, a drop below the
MYR2.88 support may reverse the momentum southwards as it forms a “lower low” bearish structure, below the average line.

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