Inari Amertron is set to extend its technical breakout, as it broke the immediate resistance on surging trading volume yesterday. After crossing the 21-day SMA line, a bullish bias has emerged above the MYR3.23 resistance-turned-support level. The bullish momentum may propel the stock towards its multi-week high of MYR3.50, followed by MYR3.68 – historical high. Meanwhile, falling below the MYR3.08 support level (beneath 21-day SMA line), will cancel this anticipation.

Source: RHB Securities Research - 15 Jul 2021