Star of the day - Insas

Insas is the second most active stock today. With 138 million share traded, it gained 24 sens (+25%) to close the day at Rm1.18.

It managed to break the neckline of its double bottom formation at around 98 sens and there was no turning back after that. It is forming its wave (iii).

For its half-year ending 31st December 2013, its earning per share is 15.07 sens, very impressive. Net assets per share is Rm1.71, solid backing.

If this is the sub-wave i of its wave (iii), the magnitude is about there. The next correction can be the sub-wave ii of wave (iii).

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