Inari Amertron has been consolidating sideways with an immediate resistance price of RM1.60. With an RSI above 50%, it may break the resistance level and move towards short-term target prices of RM1.72 and RM1.78. However, it may lose its bullish momentum if it fails to break the resistance in the near term. Hence, support is anticipated at RM1.54, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM1.60

Target: RM1.72, RM1.78 (time frame: 3-6 weeks)

Exit: RM1.54

Source: AmInvest Research - 1 Jul 2019