Frontken Corporation jumped and tested the RM2.95 resistance level. With its RSI indicator in an uptrend, coupled with higher trading volume, we see a possibility for a technical breakout. If this happens, we expect it to move towards the short-term target prices of RM3.13 and RM3.25. The downside support is projected at RM2.65. Traders are advised to exit on a breach to avoid further losses.
Trading Call: Buy near RM2.95
Target: RM3.13, RM3.25 (time frame: 2-4 weeks)
Exit: RM2.65
Source: AmInvest Research - 25 May 2021
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Created by AmInvest | Jul 26, 2024