Yesterday, IFCAMSC gained 3.0 sen or 1.94% to close at RM1.58, breaking out from its ‘Flag’ chart pattern. The stock has been showing signs of rebound after consolidating towards its -2SD regression level. However, the technical indicators are depicting mixed signals whereby the MACD has performed a negative crossover while RSI and Stochastic indicators are showing otherwise. Should it accumulate sufficient buying interest, we anticipate the share price will retest its previous high of RM1.71 and eventually rally towards RM1.81 level, which coincides with its +2SD regression line.

Source: Kenanga Research - 6 May 2015