Tuesday, May 13, 2014

Technical Analysis May 2014: INARI (0166)


Observation from chart:-

INARI retest RM2.87 strong historical resistance level.

Will it breakout & go higher?

Other indicator:-
MACD trade at positive region, uptrend sign.
Stochastic %K on BUY call itinerary.

If INARI succeed breakout the resistance & it's another new high record, there is no immediate resistance.
If retrace down, immediate support would be MA20 level.
Subsequent support @ MA50 level.

Upcoming Q3 result will be announce soon.
If above expectation, high possibility breakout & go higher.
If below expectation, it might be retrace trace & retest support.

Let's watch closely.


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