INARI

Sector: Semiconductor/ OSAT

Analyzed on 05/12/2021

Follow up from our previous analysis, INARI has fallen sharply on last Thursday to a day low of RM3.71 before closing at RM3.87, in response to a Bloomberg news reporting ‘Apple Tells Suppliers iPhone Demand Has Slowed as Holidays Near’ and a speculation where INARI’s ESG is also being scrutinized. The sharp fall has raised first alert as it broke its first support level, EMA25 and EMA50. The share price has to rebound soon to maintain its uptrend. Else, we may see INARI reversing its uptrend. Should the market continue to weaken globally due to new Covid-19 variant and slow down in iPhone demand, we may see INARI testing its next support at RM3.63.

Fundamentally, INARI has reported great quarter earnings recently and its prospects are still bright. The company is still growing and expanding its business e.g. in China to meet customer demand. In longer terms, we are confident that INARI will continue to excel and create greater value to its shareholders.

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NOTT INVEST 

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