Rakuten Trade Research Reports
Technical View - Frontken Corporation Berhad
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Publish date: Fri, 13 Jan 2023, 11:12 AM
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All materials published here are prepared by Rakuten Trade. For latest offers on Rakuten Trade products and news, please refer to: https://www.rakutentrade.my/
To sign up for an account: http://bit.ly/40BNqKI
Rakuten Trade
Hotline: +603 2110 7110 (Account Opening, General enquiry)
Email: customerservice@rakutentrade.my
Frontken Corporation Berhad (FRONTKEN, 0128)
• Share price closed 4.42% higher at RM3.31 on Thursday.
• FRONTKEN broke out from its resistance level of RM3.17 yesterday. Buying interests were seen over the past 4 trading days. It is now trading above all key moving average lines, indicating uptrend is intact. Coupled with a bullish MACD and indicators showing uptick momentum, share price is expected to move higher.
• Resistance levels are identified at RM3.32 (R1) and RM3.47 (R2).
• On the flipside, support levels are pegged at RM2.99 (S1) and RM2.97 (S2).
Source: Rakuten Research - 13 Jan 2023
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