RHB Retail Research
Technical Analysis - Formosa Prosonic Industries
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Formosa Prosonic Industries was testing the MYR1.44 level in its latest session. A bullish bias may be present above this point with a target price of MYR1.54, followed by MYR1.65. The stock may consolidate further if it cannot breach the MYR1.44 threshold in the near term. Support may be found at MYR1.28, where traders can exit upon a breach to limit the downside risk.
Source: RHB Securities Research - 19 Jul 2018
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