Monday, January 19, 2009

IOI Corp

IOI corp closed at RM 3.78 on Friday.

The stock price is now sitting near the 20 day moving average. The stock price looks to be forming a pivot point at RM 3.68 level.

The fast stochastic line is about the slow stochastic line. Once the fast stochastic line cuts above the slow stochastic line, it indicates short term strength and a possibility of a short term rebound from current levels.

If RM 3.68 is not broken today, it will most likely test RM 4.00 level soon.

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