INNATURE : Taking a breather (Medium term - Wave analysis)

Though the correction in INNATURE is still on its way to completion, we're anticipating a zigzag variant of corrective pattern based on the likely 5 waves impulsive move seen on the chart. Next fib retracement level could be seen at RM0.565 (38.2%) which could be the next potential support. However, we would be more cautious and conservative if the corrective pattern does turn out to be a zigzag variant because often times the retracement are quite deep. If 38.2% level does not hold, the next retracement level would be 50% at RM0.505. As for now, we would put INNATURE in our watchlist and will continue to monitor this stock for potential position trading opportunities after the correction ends.