RHB Retail Research
Trading Stocks - Formosa Prosonic Industries
Formosa Prosonic Industries tested the MYR1.68 level in its latest session. A bullish bias may be present above this point, with a target price of MYR1.75, followed by MYR1.82. The stock may take a breather if it cannot breach above the MYR1.68 threshold in the coming sessions. Support may be found at MYR1.61, where traders can exit upon a breach to limit the downside risk.
Source: RHB Securities Research - 8 Jan 2020
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