INARI's share price had been creeping up in the past month
after wire news reported that the company is eyeing a 300% growth once the acquisition
of Amerton Inc is completed. Yesterday, renewed buying interest sent the share
price 4 sen higher at 43.5 sen to form a
bullish "Marubozu" candlestick on the daily chart. It indicates that
the bulls were firmly in control throughout the day, and the share price has
now broken out of the 38/40.5 sen consolidation zone. Indicator-wise, the MACD,
Stochastic and RSI indicators have all hooked up as a result of the bullish move,
and we reckon that an uptrend resumption is underway. We expect the momentum to carry the share
price higher towards the measurement objective of 47.5 sen in the coming weeks,
and expect some intraday trading opportunities to exist as well.
Source: Kenanga
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