Frontken Corporation jumped and tested the RM3.26 resistance level. With its RSI indicator falling into the oversold region, coupled with higher trading volume, we see a possibility for a technical rebound. If this happens, we expect it to move towards the short-term target prices of RM3.37 and RM3.48. The downside support is projected at RM3.15. Traders are advised to exit on a breach to avoid further losses.
Trading Call: Buy near RM3.26
Target: RM3.37, RM3.48 (time frame: 2-4 weeks)
Exit: RM3.15
Source: AmInvest Research - 26 Nov 2020
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Created by AmInvest | Jul 26, 2024