AmInvest Research Reports

Author: AmInvest   |   Latest post: Thu, 2 Apr 2020, 8:57 AM


Stocks on Radar - Formosa Prosonic Industries (9172)

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Formosa Prosonic Industries surged past the resistance price of RM1.68 in its latest session. With a rising RSI, the bullish momentum may continue to reach the target prices of RM1.78 and RM1.82. If it dips below RM1.68, expect a sideway consolidation again. In this case, the immediate support is anticipated at RM1.62, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy on continuation near RM1.68
Target: RM1.78, RM1.82 (time frame: 3-6 weeks)
Exit: RM1.62

Source: AmInvest Research - 20 Feb 2020

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Labels: FPI

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