Highlights / Stock Picks of the Day Ingress Corporation Berhad ("INGRESS") – NOT RATED

On the daily chart, INGRESS broke out of the RM1.21 congestion zone amid an increase in buying volumes. The share price closed 7 sen higher at RM1.28. There was little news on the company, and even though the breakout was not explosive, it was significant enough warrant a relook. Overall, the technical picture looks to be supportive of a move higher, with the share price now firmly above all three SMAs, while the key indicators are trending upwards. The long white candlestick which formed yesterday also marks a potential continuation of the uptrend, hence we would expect momentum to carry the price higher in the near term. The immediate resistances are located at RM1.34 and RM1.39, while downside support is provided at RM1.21 and RM1.10 next.

Source: Kenanga