Inari Amertron

INARI Amertron Bhd’s recovery is showing signs of increased speed, as it rose above a recent high yesterday to continue a short-term uptrend.

The stock breached a 100-day SMA and is looking higher towards a resistance of RM2.81, which in doing would also confirm yesterday’s tentative crossing of the 200-day SMA. Beyond that is a higher price target of RM2.95, which would take the stock back to a July 2022 high.

The slow-stochastic has seen a bullish crossing, which indicates the return of buying momentum while the relative strength index (RSI) remains on a positive trajectory at 75 points.

The MACD is also beginning to pace further away from the signal line. Support for the stock can be found at RM2.51 and RM2.33.