We are revisiting IFCAMSC as the share price rose 5.0 sen to settle at RM1.29 on the back of higher daily trading volume yesterday. As a result of the strong upwards move, IFCAMSC looks poised to stage a rebound from its -2 SD regression level. This marks a continuation of its uptrend after three weeks of consolidation. Indicator-wise, the Stochastic has emerged from the oversold territory to support the reversal play. Buying interest is also picking up as seen by the uptrend trajectory shown on the RSI indicator. All in, we are issuing a “Trading Buy” call on IFCAMSC in anticipation that the share price will gradually make its way towards the RM1.44 measurement objective (which is also its mean regression level). Traders buying into the stock should also place a stop-loss at RM1.22 (3 bids below its immediate support level).

Source: Kenanga