INARI on "waiting List" as a 1 of the 30 "Components Stock Index" in KLSE..as its market cap surges after price have broken all time high again. Its price structure may show it has completed wave iv (green circled) BUT price may retrace soon for expanding flat in wave (b) (Red) where price could reach around RM 3.355..
INARI observed to develop VCP (>180 days) with below contraction:
C1: -20%
C2: -6%
C3: -6%
C4: -4%
Low risk entry zone. Big block at 3.56/3.57. Awaiting big volume come in and break it! 2nd half go go go?
New apple product launch next week can help to boost INARI share price?
Disclaimer:
Technical analysis sharing on chart pattern. Not a buy call...
Based on Fib, the price is expected to break the resistance and move towards Fib261. Let's wait for the move.
Note: This is purely my opinion based on my TA. This is not financial advice.
This is the second stock idea related to semiconductor. Inari has been forming an ascending triangle chart pattern. Now will be interesting to see if 3.75 resistance can be broken. There's a support at 3.36 and the uptrend line which coincides with the MA50 line. This is worth waiting for if it does not violate the support.
INARI stock price seem consolidating above RM2.800 in wave iv ( Green Circled) as a triple zig zag wave pattern. where price finally could reach at around RM2.800 1) The Next Major Demand Zone 2) Lower Trend Line Support of triple zig zag channel .. As previous closed price was RM3.330 there would be about 15.92% drop toward RM2.800
The current Structure has formed an uptrend for short to the midterm timeframe where it already breaks the price level of 3.32. Expected pullback to the previous resistance for buying opportunities with invalidation level for further deep correction if the price move beyond level 2.90
Expected short term TP price level of 3.48. Midterm TP will be next resistance...
BUY
- When it breaks the trendline – indicates a reversal
- Lower trendline shows an uptrend – reduced volume indicates reduced volatility after the sell-downs in March 2021
- Add more positions if it’s able to break 3.59
- A multibagger for long term position – short term wise, there are better options
- Involvement of large institutions makes short term...
Definitely will breakout from trendline resistance, green short term triangle pattern after consolidating in the blue rectangular region. A good risk reward counter to trade with now forming strong support at 3.350. Intermediate resistance at 3.445. Previous idea’s resistances are still valid. Banker spike detected at 38% and increasing.
Disclaimer: Trade at your...
Pre Consolidation Breakout Setup.
NO INVESTMENT ADVICE IS PROVIDED
DISCLAIMER
Please consider your own interpretation of Opportunity & Risk. The author of this post strictly follows the Malaysian Security Commission ( SC ) Guidelines on the prohibition of Investment Advice by unlicensed parties. Any examples shall use historical charts without any...
