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Tuesday, July 04, 2017

IWCITY: Broke the RM1.60 Support

IWCITY finally broke below the temporary support from the horizontal line at RM1.60 yesterday.


Chart 1: IWCity's monthly chart as at July 3, 2017 (Source: Shareinvestor.com)

With this breakdown, IWCITY is likely to slide to the next support at the horizontal line at RM1.40. The slow and long decline has recommenced. If the RM1.40 support is violated, it may go to the next horizontal line at RM1.20.


Chart 2: IWCity's weekly chart as at July 3, 2017 (Source: Shareinvestor.com)

By now, all hope of getting a slice of the Bandar Malaysia development is gone. IWCITY has returned to earth be just another property developer. The sweet memory of those heady days when it was Primus Inter Pares will linger on.  

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