Inari Amertron Bhd (0166)

• INARI ended 5 sen or 3.5% higher to RM1.46 yesterday.

• Share price formed a strong rebound yesterday from the recent low of RM1.38 level suggesting a bottoming out signal. Coupled with the oversold signal from key technical indicator, we believe share price will continue to recover, potentially heading towards RM1.60 level.

• From here, resistance levels are expected at RM1.60 (R1) and further to RM1.70 (R2).

• Conversely, support levels are identified at RM1.35 (S1) and RM1.27 (S2).

Source: Rakuten Research - 4 Mar 2020