RHB Retail Research
Trading Stocks - Frontken Corporation
Frontken may rise higher after it formed another white candle and breached above the MYR1.40 mark. This can be viewed as a continuation of the bulls extending the upside swing from 7 May’s “Bullish Harami” pattern. A bullish bias may emerge above the MYR1.40 level, with an exit set below the MYR1.22 threshold. Towards the upside, the immediate resistance is at MYR1.50. This is followed by the MYR1.60 level.
Source: RHB Securities Research - 16 May 2019
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