Inari Amertron Bhd

• INARI is set to resume its uptrend after surpassing the RM3.95 resistance level yesterday, marking a new 52-week high. With the stock pulling further away from all EMAs underscored by four consecutive white candles, it is likely to see additional strength in the coming sessions.

• We expect the rising momentum to steer the stock higher and test the next level of resistance of RM4.20 (R1) and RM4.60(R2) in the near term.

• On the downside, stop-loss is set at RM3.57, below 25th June low.
  

Source: Rakuten Research - 12 Jul 2024

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