Inari Amertron Bhd

• Share closed 0.42% higher at RM2.37 on Wednesday.

• Inari has been down trending from its peak at RM2.52 in early April. It has formed a bottom at RM2.25 and rebounded marginally with decent buying volume in the past 3 trading days. Coupled with a bullish MACD crossover and indicators showing uptick momentum, share price is expected to move higher.

• Resistance levels are identified at RM2.45 (R1) and RM2.54 (R2).

• On the flipside, support levels are pegged at RM2.25 (S1) and RM2.21 (S2).

Source: Rakuten Research - 5 May 2023

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