Insas is eyeing to extend its bullish movement by testing the MYR0.855 immediate resistance with high volume. We observed that since climbing above the 21-day SMA line, the stock’s trading volume increased in tandem with the share price – suggesting strong momentum is underway. If it breaks past the immediate resistance, expect another leg on the upside to test MYR0.88, followed by MYR0.90. However, falling below the MYR0.83 support will void the bullish expectation and set off the correction phase.

Source: RHB Securities Research - 26 Apr 2023