IFCAMSC (Not Rated)

• Yesterday, IFCAMSC rose 5.0 sen (+12.99%) to close at RM0.435.
• We note that the share gapped up yesterday with what appears to be the formation of a “shooting star” candlestick.
• Nonetheless, we believe the bullish momentum may be short lived with its key momentum indicators hovering around the overbought levels.
• Expect the share to retrace to find support levels at RM0.385 (S1) and RM0.340 (S2)
• Conversely, resistance levels can be identified at RM0.475 (R1) and RM0.520 (R2).

INARI (Not Rated)

• INARI gained 4.0 sen (+1.96%) to end at RM2.08 yesterday.
• Chart-wise, the share has been on a rally since September this year, which saw it currently trading above its key SMAs.
• Coupled with a bullish MACD indicator, we believe that there may be more room for upside.
• Should the buying momentum persist, key resistance levels to look out for are RM2.40 (R1) and RM2.55 (R2).
• Conversely, downside supports can be identified at RM1.60 (S1) and RM1.40 (S2).

Source: Kenanga Research - 23 Oct 2019