IJM Corp Technical Analysis

IJM is one of those interesting conglomerates who has been outperforming the market as of late.  Wait a minute, a conglomerate that is outperforming the market?  I didn't know there was such a thing!  Jokes aside,  IJM has been doing quite stellar lately.  It could have fooled me as I thought it was a punter type of stock when I looked at it.

A closer look at the stock reveals two trend lines.  Although its history as a company has been volatile, the stock does seem to have found its footing as of late.  Perhaps its fortunes have been related to its property division which is doing quite well compared to others.  It's order book is strong as well for huge infrastructure projects.

I would have liked to see more consolidation in the stock, but sentiment has been incredibly bullish.  I'd fancy a buy lower near RM 4-5 a share.