RHB Investment Research Reports
Trading Stocks - Formosa Prosonic Industries
rhbinvest
Publish date: Mon, 11 Mar 2024, 11:29 AM
rhbinvest
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An official blog in I3investor to publish research reports provided by RHB Research team.
All materials published here are prepared by RHB Investment Bank Bhd. For latest offers on RHB Invest trading products and news, please refer to: http://www.rhbinvest.com
RHB Investment Bank Bhd
Level 3A, Tower One, RHB Centre
Jalan Tun Razak
Kuala Lumpur
Malaysia
Tel : +(60) 3 9280 8888
Fax : +(60) 3 9200 2216
All materials published here are prepared by RHB Investment Bank Bhd. For latest offers on RHB Invest trading products and news, please refer to: http://www.rhbinvest.com
RHB Investment Bank Bhd
Level 3A, Tower One, RHB Centre
Jalan Tun Razak
Kuala Lumpur
Malaysia
Tel : +(60) 3 9280 8888
Fax : +(60) 3 9200 2216
Formosa Prosonic Industries is eyeing a fresh leg towards the upside after undergoing a bullish breakout. Last Friday, the counter climbed above the MYR3.10 resistance to close at the 1- year high. The latest price action confirms that the bulls have the technical advantage now. The bullish momentum should propel the counter towards MYR3.25, followed by MYR3.45. Towards the downside, breaching below the MYR3 support would lead to the kick-off of a correction phase.
Source: RHB Securities Research - 11 Mar 2024
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