Stock Picks Of The Day – Wasco, IOI Properties Group

Wasco is attempting for a technical breakout after rebounding above the 21-day SMA line and heading towards the MYR1.09 immediate resistance, backed by strong trading volume.

RHB Retail Research in a noted today (Jan 19) said if it
manages to break past above that level – forming a “higher high” bullish pattern – the stock may climb higher towards the MYR1.30 mark, before possibly reaching the next resistance at MYR1.46, its 4-year high.

Conversely, a drop below the MYR1 support would invalidate the bullish setup, falling below the SMA

IOI Properties Group is set to surge after breaching above the MYR2.08 recent high on strong trading volume.

Tracking the rising 21-day SMA line, the stock is likely to assume its uptrend in the coming sessions, leading towards the MYR2.30 mark, followed by the next resistance at MYR2.50.

On the flip side, a drop below the MYR2 support would indicate a potential downtrend, beneath the SMA line.

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