Frontken Corporation surged past the resistance level of RM1.80 in the latest session. With the momentum indicator RSI above 60%, the bullish momentum may continue and move towards the target prices of RM1.92 and RM2.03. If it dips below RM1.80, it will move sideways for further consolidation. The downside support is anticipated at RM1.69, whereby traders may exit on a breach to avoid the risk of a further consolidation.

Trading Call: Buy upon breakout above RM1.80
Target: RM1.92, RM2.03 (time frame: 3-6 weeks)
Exit: RM1.69

Source: AmInvest Research - 17 Oct 2019