INARI's share price has registered stellar gains ever since its 20-day SMA completed a "Golden Crossover" with the 50-, 100, and 200-day SMA in December. Within just 5 months, INARI has advanced more than 50%. Even so, we believe that the stock is poised for further gains ahead. Yesterday, INARI surged by 4 sen to close at 53.5 sen. The stock has now broken out of a brief consolidation phase to confirm a "Bullish Flag" formation. Trading volume was also higher, and we believe that this signals a continuation of an uptrend towards the "Flag pole" measurement objective (60 sen). Traders looking to buy into the stock should target 58.5 sen (3 bids below the 60 sen target price), while a stop-loss of 48.5 sen should also be employed.

 

Source: Kenanga