Possible for bottom fishing. INSAS's share price was hovering between RM0.675 and RM0.745 in the past four months. Both bullish RSI and MACD indicators signaled reasonable entry level, with anticipation of continuous improvement in both momentum and trend in near term. Should RM0.745 and RM0.795 resistance levels be broken, it may continue to lift price higher to the next resistance level of RM0.825 and RM0.860, eventually.
However, failure to hold at support level of RM0.710 may indicate weakness in the share price and hence, a cut-loss signal.
Source: PublicInvest Research - 11 Jan 2017
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