MIDF Research maintains positive outlook on property sector
According to the National Property Information Centre, Malaysia’s house price index has been on an upward trajectory since 2022, following the reopening of the economy.
According to the National Property Information Centre, Malaysia’s house price index has been on an upward trajectory since 2022, following the reopening of the economy.
IGB REIT said revenue for 1QFY2024 rose 5.
The research house said that if it manages to reclaim the 42.
The research house said that riding above the rising 21-day simple moving average line, the stock is likely to climb higher towards RM1.
Looking back at 2023, the research house said approved loan for the purchase of property was strong at RM261 billion last year, driven by the higher loan application, while approved loan data in January 2024 remained encouraging as it grew by 40.
The research house said that the bullish bias above that level may see the stock climb towards the 38 sen immediate resistance, followed by its recent high of 39.
In a trading stocks note on Friday, the research house said that if a breakout above that level happens, the stock may trend upwards further towards 58 sen, followed by the next resistance point of 62 sen, which is also the 4-month high.
According to Kenanga Research, the latest award has lifted the group’s new job wins this year to RM377.
The research house said that if the breakout is sustained, the uptrend rebound will likely lead to the stock climbing towards the immediate resistance of 33.
In a trading stocks note on Monday, the research house said the stock broke past the 54 sen resistance as the bullish momentum is picking up.