FRONTKN

Sector: Semiconductor

Analyzed on 16 Jan 2022

The share price of FRONTKN closes at RM3.40 for the week, a 20% drop from its all-time high of RM4.22. The sharp drop is coupled with higher trading volume, resulting in RSI to be in the oversold region as well. If we look at its long-term moving average i.e. EMA200 on daily chart (red line), we could notice FRONTKN is now slightly below its EMA200. This had happened last year, where it dropped to RM2.75 region, and recovered since then. Earnings consistency is the key for FRONTKN – its steady quarterly earnings have pushed its share price to greater heights from its EMA200. If FRONTKN business remain resilient with consistent earning growth, we could see FRONTKN rebound from its EMA200 again. 

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