Frontken Corporation climbed and hit the RM3.91 resistance level. With its 21-day moving average in an uptrend, coupled with a higher high candle stick pattern, there is a good chance that it would experience a technical breakout and head towards the short-term target price of RM4.03, followed by RM4.14. The downside support is marked at RM3.70. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM3.91

Target: RM4.03, RM4.14 (time frame: 2-4 weeks)

Exit: RM3.70
 

Source: AmInvest Research - 23 Dec 2021