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IJM- next upleg may have started

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IJM- next upleg may have started Empty IJM- next upleg may have started

Post by hlk Tue 07 May 2013, 18:06

IJM broke above its downtrend line
again as well as its horizontal resistance at RM5.60 today. See Chart
1. The company had issued a warrant, IJM-WC which has an exercise price
of RM4.00 and expiry date of Oct 24, 2014 (with tenor of535 days to
expiry). This warramt is presently trading at a Discount of 3.5%. This
coupled with the mildly bullish technical breakout observed in the
warrant price chart (see Chart 2), means that the warrant is a good bet
to ride on the upside of IJM.

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Chart 1: IJM's weekly chart as at May 7, 2013_4.15pm (Source: quickcharts)

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Chart 1: IJM-WC's weekly chart as at May 7, 2013_4.15pm (Source: quickcharts)

Note:
In
addition to the disclaimer in the preamble to my blog, I hereby
confirm that I do not have any relevant interest in, or any interest in
the acquisition or disposal of, IJM & IJM-WC.

Author: Alex Lu
hlk
hlk
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Join date : 2009-11-14
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