INGRESS – MYR1.59 (Stock Code: 7112) (Bloomberg Code: INGC MK Equity)
above: Ingress daily chart (click to enlarge)
INGRESS made a major daily Wave 4 low of MYR1.18 (22 Jan 2013) with grossly oversold and bullish signals. Its very firm buy indicators suggest a strong upside Wave 5 move. It is likely break into higher Wave 5 territory, as it breached its key resistance areas recently.
SHORT-TERM BUY (TECHNICAL) on dips for INGRESS, with very firm support areas of MYR1.39 and MYR1.59. The upside target areas for the stock are at MYR1.75, MYR1.83 and MYR2.23. Stop-loss is at MYR1.37
Ingress Corporation Berhad (INGRESS) manufactures roll-formed plastic mouldings and weather strips, automotive door assemblies and other automotive components.
by Maybank IB
