Kenanga Research & Investment

Author: kiasutrader   |   Latest post: Fri, 27 Nov 2020, 11:02 AM


Daily Technical Highlights – (IFCAMSC,INARI)

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IFCAMSC (Not Rated)

  • Yesterday, IFCAMSC rose 5.0 sen (+12.99%) to close at RM0.435.
  • We note that the share gapped up yesterday with what appears to be the formation of a “shooting star” candlestick.
  • Nonetheless, we believe the bullish momentum may be short lived with its key momentum indicators hovering around the overbought levels.
  • Expect the share to retrace to find support levels at RM0.385 (S1) and RM0.340 (S2)
  • Conversely, resistance levels can be identified at RM0.475 (R1) and RM0.520 (R2).

INARI (Not Rated)

  • INARI gained 4.0 sen (+1.96%) to end at RM2.08 yesterday.
  • Chart-wise, the share has been on a rally since September this year, which saw it currently trading above its key SMAs.
  • Coupled with a bullish MACD indicator, we believe that there may be more room for upside.
  • Should the buying momentum persist, key resistance levels to look out for are RM2.40 (R1) and RM2.55 (R2).
  • Conversely, downside supports can be identified at RM1.60 (S1) and RM1.40 (S2).

Source: Kenanga Research - 23 Oct 2019

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Related Stocks

Chart Stock Name Last Change Volume 
IFCAMSC 0.41 -0.015 (3.53%) 6,502,300 
INARI 2.67 +0.02 (0.75%) 9,935,200 

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