INARI
Sector: Semiconductor/ OSAT
Analyzed on 28/11/2021
Follow up from our previous analysis, INARI has rallied to new high of RM4.25, after posting its best quarterly revenue and profits. INARI closed the week at RM4.17, slightly retraced from its peak. RSI has also reached overbought region during the peak.
Given that the new Covid-19 variant ‘Omicron’ is emerging, the market has experienced bloodbath last Friday across the globe. Investors and traders fear that due to this new variant, countries may begin to implement strict lockdown which definitely will impact the economic activities negatively similar as the one we had in March 2020. Further monitoring of the global lockdown is required to make informed trading/ investing decisions.
Should a sell down occur next Monday/ next week, we can anticipate INARI to test its support at RM3.95 and RM3.63 levels. Depending on the variant development, this could be an opportunity for long term investors to collect INARI at cheaper valuation.
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NOTT INVEST
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