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PREDATOR'S-EYE VIEW -INSTACO 22/1/16
INSTACO finished a quiet and slow session unchanged at 28.5 sens.
Traders were seen to be sidelined ahead of the long-weekend.
A total of 26.03 M shares were traded, of which 24.10 M shares changed hands at 28.5 sens and 1.93 M shares at 29.0 sens.
A forward-looking analysis of the long-term price trend of INSTACO continues to suggest that the upward cycle would continue once the headwinds linked to negative US and Asian markets subside in the coming days.
INSTACO had weather the storm very well the last couple of days.
Presently, it is faced with an overhead price resistance at 30.0-30.5 level. This crucial technical barrier need to be breach in order for the upward trend to expand into new territories.
Watch for a break out next week and join the bandwagon!
GMT
When the bull-run begins, there are two things you can do -- with it or do not get in its way! |
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