IOI Group Weekly HEFFX Highlights: $1.45 target

IOI Group Weekly HEFFX Highlights: $1.45 target

IOI Properties Group Berhad is an investment holding company. The Company’s segments include Property development, which is engaged in the development of residential, commercial and industrial properties; Property investment, which invests in shopping mall, office complex and other properties; Leisure & hospitality, which is engaged in management and operation of hotels, resorts and golf course, and Other operations, which is engaged in project and building services management, landscape services and other operations. Its properties at Malaysia (Selangor) include 16 Sierra, Puchong South; Bandar Puteri Puchong & Puchong Jaya; IOI Resort City, Putrajaya; Bandar Puteri Bangi, Bangi, and Warisan Puteri, Sepang. Its properties in other states of Malaysia include Bandar IOI Bahau, Negeri Sembilan; Bandar Putra Kulai, Johor; Bandar Putra Segamat, Johor; Desaria, Penang, and Bandar Kempas Utama, Johor. Its managed projects include PJ Midtown, Bandar Puteri Klang and The Clio Residences.

Overall, the bias in prices is: Downwards.

Short term: Prices are moving.

Intermediate term: Prices are trending.

The projected upper bound is: 1.45.

The projected lower bound is: 1.28.

The projected closing price is: 1.36.

IOI PROPERTIES closed up 0.040 at 1.370. Volume was 41% below average (neutral) and Bollinger Bands were 50% narrower than normal.

OpenHighLowCloseVolume
1.331.371.321.371,282,500

Technical Outlook
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bearish

Moving Averages:10-period50-period200-period
Close:1.351.41.56
Volatility:424049
Volume:3,674,5503,074,9101,668,568

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary

IOI PROPERTIES is currently 12.0% below its 200-period moving average and is in an upward trend. Volatility is extremely low when compared to the average volatility over the last 10 periods. There is a good possibility that there will be an increase in volatility along with sharp price fluctuations in the near future. Our volume indicators reflect volume flowing into and out of IOIP.KL at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on IOIP.KL and have had this outlook for the last 7 periods. The security price has set a new 14-period high while our momentum oscillator has not. This is a bearish divergence.

Momentum

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 52.6316. This is not an overbought or oversold reading. The last signal was a buy 25 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 52.60. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a buy 22 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 49. This is not a topping or bottoming area. The last signal was a sell 4 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 20 period(s) ago.

Candlesticks

A big white candle occurred. This is generally considered bullish, as prices closed significantly higher than they opened. If the candle appears when prices are “low,” it may be the first sign of a bottom. If it occurs when prices are rebounding off of a support area (e.g., a moving average, trendline, or retracement level), the long white candle adds credibility to the support. Similarly, if the candle appears during a breakout above a resistance area, the long white candle adds credibility to the breakout.
During the past 10 bars, there have been 2 white candles and 5 black candles for a net of 3 black candles. During the past 50 bars, there have been 12 white candles and 28 black candles for a net of 16 black candles.

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John Heffernan

John Heffernan is a Junior Analyst at HEFFX. John is studying Economics and is a contributor on equities at Live Trading News.

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