Sunday, April 8, 2007

INSAS hitting the bottom yet?

Just a month+ back this stock staged a run up of about 250% before it succumbed to profit takings and followed by the vicious Feb 28th crash which wiped out almost 50% more of it's share price from it's 6-year high of ~$1.07. Is the worst over for this stock? Well, many stocks have recovered well from the crash on feb 28th but this stock seems lagged behind.
With the 9mp and IDR being the main focus of late, we should realize that as much as we want to believe that ctrs like tebrau, uem world, mulpha and ekovest will have relatively high ceiling/ target price due to their involvement in the IDR and 9mp, they cannot continue to run up north non stop.
In the stock market, funds move from 1 sector/counter to another and it'll come a day for a stock like insas to move aggressively again. Having posted a remarkable year-to-year profit last year, there's no doubt that this stock will continue to gain interest in near future particularly it's warrant which expires in about 2 years time. With a strong support level at 0.695, there should be limited down side for this stock given the current market situation. Worth to take a look if, you're considering to park your spare cash elsewhere for another handsome gain in the near future...

just my 2 cents worth...

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