RHB Retail Research
Technical Analysis - Formosa Prosonic Industries
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Formosa Prosonic Industries may rebound higher after it continued holding above the MYR1.34 support. Yesterday’s close has sent the stock to its highest close in more than two months, thereby enhancing the positive sentiment. A bullish bias may appear above the MYR1.45 level, with an exit set below the MYR1.34 threshold. Towards the upside, the nearterm resistance is at MYR1.60. This is followed by the MYR1.70 level.
Source: RHB Securities Research - 10 Aug 2018
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