Nov 23, 2015

IFCA MSC May Trend Higher

IFCA MSC BHD Stock Code: 0023 Board: ACE

IFCA  MSC  may  trend  higher  after  breaching  the  downtrend  line  to cross the 100-day MAV line in its latest session. Traders may buy as a  bullish  bias  could  be  present  above  the  MYR0.91  level,  with  a target  price of MYR1.03, followed by MYR1.08.  The stock may drift lower  if  it  cannot  sustain  above  the  MYR0.91  mark.  In  this  case, further  support  is  anticipated  at  MYR0.845,  where  traders  can  exit upon a breach.

IFCA MSC Daily Chart:

IFCA  MSC  analysis

Source: RHB Research – 23/11/ 2015

The Company is principally involved in R&D and selling of enterprise-wide integrated business solutions.