Inari Amertron was testing the RM1.62 level in its latest session. With a moderate RSI level, a bullish bias may be present above this point with a short-term target price of RM1.72. Meanwhile, it may continue trending sideways if it fails to cross the RM1.62 mark in the near term. In this case, support is anticipated at RM1.52, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM1.62

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

Exit: RM1.52

Source: AmInvest Research - 23 Aug 2019