Formosa Prosonic Industries broke past the resistance level of RM1.64 with higher trading volume. With the momentum indicator RSI above 50%, the momentum may continue to climb towards the target prices of RM1.74 and RM1.80. The immediate support is anticipated at RM1.58, whereby traders may exit on a breach to avoid the risk of a further consolidation.

Trading Call: Buy on continuation near RM1.64
Target: RM1.74, RM1.80 (time frame: 3-6 weeks)
Exit: RM1.58

Source: AmInvest Research - 13 Feb 2020