Naked Chart Trading: INARI 12 Jun 2024

Thanks to recent AI development, semiconductor stocks had been lifted to start a new rally. There is no official news at the moment, but INARI's prices trending up steadily to retest RM4 level. So I revisit INARI chart for an analysis

Long term trend: Sideway to bullish, testing RM4 resistance level

Short term trend: Bullish since 2H2023 with higher highs and lows, more green candlesticks

Fibo Analysis (Pandemic low to 2021 high): sustain above 61.8% level, likely to retest RM4

Resistance: RM4, RM4.20

Support: RM3.20, RM3, RM2.70

Due to recent more to bullish sentiment, expect its share prices to sustain above RM3 level

Disclaimer
This content is for reference only and does not constitute any investment advice, and past performance is not indicative of future performance. Returns will vary, and all investments carry risks, including loss of principal. Please make your own investment decisions.