INARI (Close Position @ RM1.70)

• INARI slipped 7.0 sen (-3.96%) to close at RM1.70.
• Since our ‘Trading Buy’ call earlier this April, the share reached a high of RM2.07 three days later.
• However, INARI was unable to break past the RM2.07 resistance level and saw an immediate decline thereafter.
• Technical indicators are currently all in negative, with the share decisively broken past the RM1.79 support level.
• We decide to close position for now. Traders could consider selling on any near-term strength towards RM1.79 (R1). Conversely, immediate support levels are at RM1.62 (S1) and RM1.33 (S2) further down.

YEELEE (Not Rated)

• YEELEE rose 7.0 sen to RM2.22 (3.26%) yesterday.
• The share has experienced sideways since September 2017. However, technical picture is turning positive with the price decisively breaking the 100-day SMA combined with bullish “Marubozu” candlestick.
• Momentum indicators appear favouring the upside as displayed by the upwards trending in MACD above Signal-line as well as RSI and Stochastic.
• Expect follow through buying towards RM2.23 (R1) with a decisive breakout seeing higher resistance towards RM2.36 (R2).
• Conversely, if buying momentum fails to sustain, look for immediate support at RM2.15 (S1) and RM2.03 (S2) further down.

Source: Kenanga Research - 24 Apr 2018