Frontken Corporation is set to climb higher as it bounced off the 21-day average line while reclaiming the area above the immediate resistance of MYR2.83 yesterday with a “long white” bullish candlestick. The bullish bias above that level may drive the counter higher towards the psychological level of MYR3.00, followed by MYR3.10 or 5 Apr’s high. If it falls below the MYR2.63 support, the momentum may reverse direction, as it forms a “lower low” bearish pattern below the average line.

Source: RHB Securities Research - 13 Sept 2022