Insas (INS MK) Technical BUY with +21.0% potential return Last price : RM1.24 Target Price : RM1.36, RM1.50 Support : RM1.18 Stop-loss: RM1.17 BUY with a target price of RM1.50 with stop loss placed below RM1.17. INS’s share price remains solid above the immediate support of RM1.18 despite numerous attempts to breach lower over the last 5 weeks. Following a positive candle that closed above both the 10-day and 21-day SMA lines yesterday, we expect a potential shift in overall sentiment from sideways to bullish. Our view is supported by the emergence of fresh buying interest as shown by the higher trading volume of 15.5m shares recorded yesterday (vs 20-day average of 10.0m) and a surge in momentum as flashed by a bullish crossover in Stochastic. Moving forward, we expect INS to retest the recent high of RM1.36 and subsequently rise further toward the 1.61x Fibonacci extension target of RM1.50 over the medium term.
b4 this ksl have this sign too.when report came out it make loses. maybe they have insider info. just my guessing opinion, btw i still have insas in my hand. waiting for the show
The way i see is today's pattern (good if others comment too):
Every time Inari or Inari-W moves..it moved in the same direction with just seconds delay.
The price movement was 0.25 of Inari's P - change 1.0, i.e for very 4 cents change of Inari, Insas changed by 1 cents. That is exactly as per the stakes held by Insas on Inari.
The starting base of Insas was: 1.20 and Inari was 2.60
It is at current price, as per the change in Inari of approximately 20 cents. Today it was moving just like a light hand bag moving along the carrier Inari.
The volume was too low...and could have easily pushed up by operator if they wanted. The focus was on Inari...where there seems to be a planned acquisition by some parties probably before all the good news are out.. they dont want to push too fast such that they can buy low from the impatient holders perhaps.
On Insas i believe/hope it will have big jump when the focus shifts....after all the good news of Inari is out to really reflect is actual value.
At the moment its just a handbag moving with the carrier..
Yes Kheng...the amount of sellers it had to swallow before it hit 1.3+ was mind boggling during the last up-trend wave. looking at today's seller volume it appeared like peanuts....so just have to wait patiently.
Technical BUY with +21.0% potential return Last price : RM1.24 Target Price : RM1.36, RM1.50 Support : RM1.18 Stop-loss: RM1.17 BUY with a target price of RM1.50 with stop loss placed below RM1.17. INS’s share price remains solid above the immediate support of RM1.18 despite numerous attempts to breach lower over the last 5 weeks. Following a positive candle that closed above both the 10-day and 21-day SMA lines yesterday, we expect a potential shift in overall sentiment from sideways to bullish. Our view is supported by the emergence of fresh buying interest as shown by the higher trading volume of 15.5m shares recorded yesterday (vs 20-day average of 10.0m) and a surge in momentum as flashed by a bullish crossover in Stochastic. Moving forward, we expect INS to retest the recent high of RM1.36 and subsequently rise further toward the 1.61x Fibonacci extension target of RM1.50 over the medium term.
Huge volume this morning. Buy in @123to125 will reward you for coming weekend. Sellers will be easily absorbed and they will regret selling into a bullish run. Good luck folks!
And...if they sold 5% of the 35% stake in Inari, just the profit alone, compared to Inari's P of 1.7 to current P, is almost matching their qtrly earning.
If they sold all, they can maintain the same earnings for next 7 qtrs without doing anything..ie, not even investing their money they have which was reported as 570m as Cash and ST investment.
Perhaps someone else can give a more accurate fundamental evaluation...
whr r the enlightening writers? I also wish to hv them here.. would appreciate regardless how informative their points are....as long as its not like a child complaining to mommma!
Have not commented for quite some time already but still a strong supporter :) Anyway, Insas should/would continue to hold Inari; why? Bcos among its various "diversified" revenue (property, retail, eateries, car rental, stockbroking & ......!!!), Inari's earnings are still more sustainable and growing. Just ask yourself where was Insas share price before Inari; got it? The show is not over yet. If I want to exit, I wait till either Inari has a crazy valuation (20+ times PE) or earnings plateau. Are we there yet?
Insas will go up as Inari keeps climbing. Insas 3Q results should be out by end of the month. Should make a lot of money since Inari made good profit (3Q result out today).
The ball was dribbling from a high amplitude of 1.19-1.25...and then slowly got narrowed....and narrowed to a tight spot of 1.22. It cannot breath anymore there. Now it has to decide its direction firmly...
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