INSAS' share price was up 4 sen or 3.8% to close at RM1.09 on a slight uptick in volume. Chart-wise, share price has broken out of a Descending Triangle, while the 20–day SMA is beginning to point upwards, signaling renewed buying interest. Key indicators are also pointing towards a rebound as the MACD has crossed over the Signal Line, while RSI and Stochastics are both hooking upwards. Should this bullish momentum persist, we expect share price to push towards our ‘Flagpole’ measurement objective of RM1.31, while strong support remains at RM1.02 (R1) and RM0.99 (R2).

 

 

Source: Kenanga