Frontken Corporation may extend its upward trajectory after it broke out from its five months ascending triangle pattern with a long white candle two sessions ago. In view of the upside gap formed on 11 Nov together with bullish crossover few sessions ago, indicating that the current uptrend may persist. A bullish bias may emerge above the RM2.92 level, and the bullish momentum should lift it towards the subsequent resistance levels of RM3.26, followed by RM3.38. Towards the downside, stoploss is set at RM2.69, below the 22 Nov’s low.

Entry : RM2.92-3.03

Target : RM3.26, RM3.38

Exit : RM2.69

Source: AmInvest Research - 29 Nov 2022