INSAS

Periodically,  TCB will pick a stock we may like to trade short term.  So, this week, TCB have picked the stock, INSAS to put in *Stock In Focus (SIF)*.  Please do not take this as a buy signal as our TA reading for these stocks are for sharing purposes only.  Do calculate your own risk/reward ratio if you decided to trade this counter.

Background Information

Insas Berhad operates as an investment holding and management company in Malaysia and internationally. The company's Financial Services and Credit & Leasing segment engages in stock broking and deals in securities, credit and leasing, and granting of loans and other related financing activities; and provides share registration services, management services, and nominee agent services. Its Property Investment and Development segment is involve in property holding and investment, project management, and property management and development.

Shares Issued - 693,333m

Market Cap - 845,867m

Technical Analysis

--- INSAS: Weekly Chart ---

--- INSAS: Daily Chart ---

In recent weeks. global markets have been soaring to new highs and our local bourse has just kicked start an uptrend momentum these couple of days. Most companies are expected to release their quarterly reports soon.

From a technical point of view, INSAS on the weekly and daily chart has turned bullish. A resumption in its uptrend is expected as its share price managed to break the upper Bollinger Band and trended above the 100MA which usually will be followed by a continuation in its uptrend. The uptrend is further confirmed by the closing of the fallen gap at 1.17. Noticeably, reading from all oscillators are in the bullish region and the near term outlook remains bright for INSAS.

Based on the weekly chart, with the break up from 1.17, Insas has entered into its previous Rectangle trading pattern of 1.17 to 1.34. Its previous uptrend line (marked out by the red line) will now form its strong resistance. If it can break and stay above this line, it will be in the stage 2 cycle with the potential to scale  new highs beyond 1.34.

On the daily chart, significant resistance can be found at the 1.25 level. A decisive breakout above 1.25 with volume will spur share prices higher towards the 1.32 and 1.36 levels. However if share prices are unable to hold above the 1.25 level, it will see support at 1.17 and 1.12. A trailing stop loss of 1.07 level will be triggered.

Technical Indicators :-

RSI (14 ) - 76% (Bullish )
MACD ( 26,12 ) - 0.009 ( Bullish )
Stochastic - Bullish
Volume MA - 5.295 m ( 5days ), 4.682m ( 20 days )

Price Action Technique Analysis

A collection pattern is noticeable as refilling at 1.21 level on the trading day of 19/11/2014.
Bid pattern was healthy and positive.