RHB Retail Research
Trading Stocks - Formosa Prosonic Industries
Formosa Prosonic Industries may rise higher after it formed a third consecutive white candle. Yesterday’s white candle can be regarded as a continuation of the rebound that started off 4 Jan’s “Bullish Engulfing” pattern. A bullish bias may appear above the MYR1.69 level, with an exit set below the MYR1.58 threshold. Towards the upside, the near-term resistance is at MYR1.82. This is followed by the MYR1.90 level.
Source: RHB Securities Research - 9 Jan 2019
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