Inari Amertron may soon rebound higher to test the RM1.10 resistance level. Observe that the RSI indicator is below 30%, indicating it is oversold. Coupled with a hammer pattern on the previous session, we belive that it may breach the resistance soon. If this happens, the next short-term target prices will be RM1.20 and RM1.25. The downside support is anticipated at RM1.00, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy on breakout RM1.10

Target: RM1.20, RM1.25 (time frame: 3-6 weeks)

Exit: RM1.00

Source: AmInvest Research - 20 Mar 2020