Inari Amertron Bhd

• Share price closed 3.96% higher at RM3.15 on Wednesday.

• INARI is on a recovery phase after hitting its 52-week low of RM2.15 in mid-May 23. It broke out from its resistance level of RM3.10 with a spike in buying volume on Wednesday. MACD is poised for potential cross over in the near future, thus share price is expected to move higher.

• Resistance level are identified at RM3.10 (R1) and RM3.20 (R2).

• On the flipside, support levels are pegged at RM2.99 (S1) and 2.96 (S2).

Source: Rakuten Research - 1 Sept 2023

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