IFCAMSC was up by a staggering 11sen (15.4%) to RM0.82 yesterday on higher trading volume. Chart-wise, the stock has broken out of a descending triangle, with all 3 SMA’s heading upwards. The White Marubozu observed yesterday also confirms strong buying interest in the stock. Key indicators are all bullish as the MACD has just crossed over the Signal Line, while RSI is bent on hooking upwards, with more room to grow. Short-term traders can expect share price to push towards RM0.93 (R1), while longer term investors can expect share price to push towards our long term measurement objective to RM1.25, should buying interest remain resilient.

 

 

Source: Kenanga