RHB Investment Bank Bhd (RHB Research) is keeping a bullish view on IOI Properties Group and THMY Holdings, with both counters showing technical setups that could support further gains.
For IOI Properties Group, RHB Research said the stock’s uptrend could resume after forming an interim base near its recent breakout point.
The stock is trading above the RM4 resistance level, indicating that bullish momentum has taken the technical advantage.
RHB Research expects the counter to extend its upward trajectory following the consolidation phase, with the next targets at RM4.20 and RM4.40.
However, the positive outlook would be invalidated if the stock falls below the RM3.80 support, which could trigger a correction.
Meanwhile, THMY Holdings is also showing signs of extending its bullish trajectory after breaking out to the upside.
The stock closed above the RM1.87 resistance, which RHB Research said signals strong bullish momentum.
The research house expects THMY Holdings to continue moving higher towards RM2, followed by RM2.10.
The bullish setup would be negated if the stock falls below the RM1.75 support, potentially triggering a correction phase.
