RHB Retail Research
Trading Stocks - FoundPac Group
FoundPac Group may climb higher after forming a white candle and hitting its new 52-week high. In view that the 21- day SMA line is likely to begin turning upwards, this implies a positive outlook sentiment. A positive bias may emerge above the MYR0.95 level, with an exit set below the MYR0.88 threshold. Towards the upside, the immediate resistance is at the MYR1.05 mark, followed by the MYR1.10 level.
Source: RHB Securities Research - 18 Feb 2020
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