Stock Code : 0162
Price : RM 0.40 (13th March 2015)
Target Price : RM 0.48 (20% upside, or 8 cents)
Ijacobs had been rising up with the recent solid buying as highlighted in the blue markers. The recent buying had been a good and strong momentum indicator for the stock to rise higher. We can see that the RSI had been rising towards the bullish region. Ijacobs could be challenging RM 0.45 as the first hurdle, while the 2nd target will be at RM 0.48.
According to Elliot 5 Waves analysis, Ijacobs might had climbed on the 3rd wave and currently is consolidating at the 4th wave now. Ijacobs will possibly see a final 5th wave.
Price Target : 1st - RM 0.45
2nd - RM 0.48
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