Frontken Corporation is poised for a technical breakout after bouncing off the 21-day SMA line and testing the MYR3.80 level yesterday on strong volume. If a breakout occurs above this level, the counter should trend upwards towards MYR4, followed by the next resistance level at MYR4.20. On the other hand, a fall below the MYR3.60 immediate support would nullify the bullish setup.
Source: RHB Securities Research - 6 Mar 2024
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Created by rhbinvest | Aug 23, 2024