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Instaco on the rise after EGM

Written By Unknown on Saturday 17 August 2013 | 9:19:00 am

On Friday 16 August, there was some profit taking from 0.380 ~ 0.390 before 11.30am because some panicked before the EGM whether what will be the exercise price of the free warrant. After about 11.45am, it shoot up to 0.40 and shoot up again after 3 to 0.42 after they got the information that the exercise price will be at 0.33.

Based on the chart it will test the next resistance at 0.43 and probably next resistance will be at 0.46 ( TP from RHB).

MACD - Positive
RSI - Positive
STO - Positive
ICHIMOKU - Positive

REsistance at 0.43 and 0.46
SUpport 0.37

I collect some stocks at 0.395 on Thursday and sold it on Friday at 0.415. Thinking again.. i should keep it longer and see what will happen on Monday but i am worried about the External Factor from Dow Jones which have been dropping for the past few days. On Friday, Dow Jones drop another 100 point .

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1 comment:

Anonymous18 December 2013 at 23:43
what is your take on instaco seems that the management and rhb investment bank are playing a story and to keep the price as low for institutions to buy in. the many loss making companies on ace seem to move up higher and faster but instaco making profit is at a very low price and sideways for a long time with low volume mistake to buy this company shares. no transparency and genuine investors seem to be at a loss.
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