Inari Amertron rose and tested the RM4.00 resistance level. With its RSI indicator in an uptrend, coupled with a higher trading volume, we see a possibility for a technical breakout. If this happens, we expect it to move towards the short-term target prices of RM4.15 and RM4.20. The downside support is projected at RM3.80. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM4.00

Target: RM4.15, RM4.20 (time frame: 2-4 weeks)

Exit: RM3.80
 

Source: AmInvest Research - 3 Jan 2022