Iris Corporation Bhd (0010)

• IRIS surged 19.7% or 6.5 sen to RM0.395 yesterday.

• Technically speaking, share price has been on a bullish upward trend underpinned by positive key technical indicators. With the recent news on Iris being one of the key front runners to bag the billionringgit National Integrated Immigration System, we expect buying interest to continue with share price likely to chart new highs.

• Resistance levels are identified at RM0.45 (R1) and RM0.50 (R2).

• Conversely, support levels are seen at RM0.35 (S1) and RM0.30 (S2).

Source: RHB Securities Research - 18 Aug 2020