• Technical BUY on breakout with +23.9% potential return
• Target price: RM1.09, RM1.22
• Support: RM0.935
• Stop-loss: RM0.93

BUY on breakout with a target price of RM1.22 and stop-loss at RM0.93. A bullish Harami was spotted on the daily chart, indicating a bullish reversal pattern. Currently, INS’s share price consolidated within the immediate support of RM0.935 before last Friday’s positive closing above the BBI to set a new tone for the short-term outlook.

We expect INS to continue on an upward movement. The bullish bias has been established following an uptick in the DMI.

We peg our targets at RM1.09 and RM1.22 respectively.

Expected Timeframe: 2 weeks to 2 months.

Source: UOB Kay Hian Research - 5 Jun 2017