INSAS recently announced a 1-to-5 rights issue with the ex-date set at 23rd of January 2015. INSAS share price gapped up by 5 sen or 5.81% to settle slightly above its +1SD regression line. Both Stochastic and RSI indicators are implying that buying momentum is piling up, supported by the bullish divergence shown in the MACD indicator as well as high trading volume. We suggest traders who look to ride on the bullish bandwagon to take this as a good entry point with target objective set at RM1.06 which is the 200-day SMA level.

 

 

Source: Kenanga