RHB Retail Research
Trading Stocks - Frontken Corporation
Frontken formed a long white candle, indicating that the momentum of buying could be strong. This can be viewed as a continuation of the bulls extending the buying momentum from 1 Jul’s upside gap. A bullish bias may emerge above the MYR1.46 level, with an exit set below the MYR1.36 threshold. Towards the upside, the immediate resistance is at MYR1.60. This is followed by the MYR1.70 level.
Source: RHB Securities Research - 12 Jul 2019
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