IGB Corporation Berhad (IGB) is an investment holding and property development company. Through its subsidiaries, the company has operations in hotel management, project management, and provides construction services.
IGB made a major daily Wave 5 low of RM1.75 on 4 October 2011, with oversold and bullish divergent signals. Furthermore, most of its positive indicators are strongly supportive of much further upside. We feel that IGB will surge in the period mentioned above.
SHORT-TERM BUY (TECHNICAL) on dips for IGB with its firm support areas of RM2.00 and RM2.25. The potential Wave 3 & 5 upside target areas is located at RM2.57, RM3.01 and RM3.55. Stop-loss is at RM1.98.
Some trading stocks that we like are: CARLSBG, DLADY,
IGB, GENP, GAB, KPJ, NESTLE, ORIENT, SOP, TM and
TWSPLNT.
FBM KLCI: Key Points
- IGB – A firm Wave 3 surge
- FBMKLCI – Uncertainty may prevail
- Weaker supports of 1,447 & 1,467
- 1,470 & 1,494 will cap the rebounds
(Information from MBB)
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