TRADING IDEAS: PULLBACK ON IFCAMSC PERCEIVED TO BE COMPLETED, READY TO REBOUND - ACCUMULATE!
IFCA MSC Berhad provides research and development of enterprise-wide business solutions. The Company, through its subsidiaries, provides turnkey solutions. IFCA MSC also installs and provides services for computer hardware and networks. Technical view on IFCAMSC:
1. IFCAMSC has been in a steady uptrend ever since the start of 2019. The pullback seen a few weeks ago provide investors a good opportunity to accumulate this stock at a favorable price.
2. Price has been consistently trading above the key weekly EMAs, which indicates a bullish outlook. Not only that, the shorter-period EMAs are trading above the longer-period EMAs, which shows direction are leaning towards the upside.
3. Volume has been consistently high as well, showing active interest in this particular stock.
4. Overall, based on the positive technical factors, we opine that IFCAMSC is ready to surge higher with immediate upside target around RM0.55, based on 50% Fibonacci calculation. Nonetheless, price may possibly move above RM0.55 if upwards momentum continue to remain strong
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
invincibledog
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Posted by invincibledog > 2019-12-20 10:59 | Report Abuse
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