Ingress put on 3 sen to close at 84.5 sen with an intraday high of 89 sen. The price movement suggested that Ingress is currently forming its sub-wave vii of wave 1 of major wave (III).
After the current sub-wave vii, it has to completed its sub-wave viii and ix to form its wave 1 of major wave (III), still a long way to go to complete its major (III).
Its OBV is very strong with an accumulated on-balanced volume of 40 millions shares.
The long-term chart (10-Year) shows that the strong accumulation phase started in July 2009 when the price dropped to below 20 sen. The target price for major wave (III) is Rm1.40 and major (V) at around Rm 2.00, but it is going to take a very long time to reach there unless it can move up with a steeper gradient.
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