Inari Amertron Bhd
, which has been oversold recently, was bouncing out of its trough yesterday.
The share, which underwent a correction at the start of the year, could have hit bottom and move higher soon.
It is seeing resistance at RM2.90, where the 14-day simple moving average (SMA) line is descending. The share sees a price target at RM3.20, representing a recent peak.
The technical indicators are moving higher, with the slow-stochastic on the verge of emerging from oversold territory, while the 14-day relative strength index has neutralised from oversold conditions.
The daily moving average convergence/divergence (MACD) histogram has yet to turn positive, but the shortening negative bar is a positive sign. Support is pegged to RM2.62 and RM2.15.
Dayang Enterprise Holdings Bhd is holding on to the RM2 level and could be on the verge of a strong rebound.
The technical indicators are indicating a recovery as the slow-stochastic pushes its way out of oversold conditions. The RSI has also recovered to 43 points.
However, the MACD continues to signal a downtrend, as the share has yet to embark on a meaningful recovery.
Resistance sits at RM2.27 and RM2.60 while support can be found at RM1.95 and RM1.70.
UWC Bhd has reclaimed the 200-day SMA line, which it fell through on Tuesday.
The share, however, remains at risk of continuing a correction that began in the ending days of 2024.
Nevertheless, the slow-stochastic and RSI are showing signs of bouncing higher, with the former indicator poised to cross above the oversold line.
In the event of a recovery, the share is expected to see some resistance at the RM3 level, where it meets the short-term 14 and 21-day SMA lines, before it arrives at a recent peak of RM3.28.
Support, meanwhile, is found at RM2.54 and RM2.10.
The comments above do not represent a recommendation to buy or sell.
