RHB Retail Research
Trading Stocks - Frontken Corporation
Frontken formed a long white candle, indicating that the momentum of buying could be strong. Yesterday’s candle has sent the stock to its new 52-week high, thereby enhancing the bullish sentiment. A positive bias may emerge above the MYR2.16 level, with an exit set below the MYR2.05 threshold. Towards the upside, the immediate resistance is at MYR2.35. This is followed by the MYR2.50 level.
Source: RHB Securities Research - 13 Dec 2019
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