Frontken Corporation is set to rebound northwards as it broke above the MYR2.61 resistance recently – yesterday, it continued to sustain above it as well as the 21-day average line. If the buying interest persists, the bulls may drive the stock towards the MYR2.83 resistance, followed by the next resistance at MYR2.90. Meanwhile, a drop below the MYR2.47 support may reverse the direction southwards as it forms a “lower low” bearish structure.

Source: RHB Securities Research - 31 May 2022