Nott Invest

Where is the next support for INARI?

Publish date: Sun, 16 Jan 2022, 04:59 PM
Nott Invest Analyses


Sector: Semiconductor/ OSAT 

Analyzed on 16 Jan 2022

The Technology sector suffered a significant drop from year-to-date, and INARI being the market capitalization leader is also not spared. The catalysts for the valuation drop are due to Fed’s meeting which indicated faster pace of tapering and interest rate hikes. Making things worse, Fed is also considering reducing holdings of Treasure and mortgage-backed securities.  From Daily Chart perspective, INARI has broken all its EMA25/50/100/200 supports, thus it would be meaningless to review based on the Daily Chart.

If we look broader through weekly chart, INARI ended the week with a long red candle, breaching its EMA50. There are no signs of downtrend reversal. If the negative sentiment towards technology sector persists, we could see INARI testing its Weekly Chart EMA100 support at RM3.00.


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Be the first to like this. Showing 3 of 3 comments


downtrend dont guess support

2022-01-16 19:55


Who dare to catch falling knife?

2022-01-17 01:04


I would say ard 3.11

2022-01-17 16:12

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