Frontken Corporation leapt above the resistance price of RM2.17 in the latest session. With the momentum indicator RSI above 70%, it may continue to move towards the near-term target price of RM2.25 followed by RM2.30. On the downside, the support price is anticipated at RM2.09, whereby traders may exit on a breach to avoid the risk of a further correction.
Trading Call: Buy on continuation above RM2.17
Target: RM2.25, RM2.30 (time frame: 3-6 weeks)
Exit: RM2.09
Source: AmInvest Research - 13 Dec 2019
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