Frontken Corporation inched above the resistance level of RM1.70 in its latest session. With an RSI level above 60%, it may continue to climb above the resistance and move towards the short-term target price of RM1.82 followed by RM1.92. If it dips below RM1.70, expect a sideway consolidation. Support price is anticipated at RM1.60, whereby traders may exit on a breach to avoid the risk of a further correction.
Trading Call: Buy on continuation above RM1.70
Target: RM1.82, RM1.92 (time frame: 3-6 weeks)
Exit: RM1.60
Source: AmInvest Research - 19 Sept 2019
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