Inari Amertron is poised to resume its uptrend above the consolidation phase, as it bounced off the immediate support and headed for the immediate resistance of MYR3.15 yesterday. If a breakout above that level happens, the stock may climb towards MYR3.50, followed by MYR3.90. However, falling below the MYR3 support would indicate a reversal in trend (towards the south), as it forms a “lower low” bearish pattern, below the 21-day SMA line.

Source: RHB Securities Research - 10 Aug 2023