RHB Retail Research
Trading Stocks - Formosa Prosonic Industries
Formosa Prosonic Industries may rebound higher after it continued holding above the MYR1.62 support. As the stock recently recovered above the 21-day SMA line, this indicates a positive sign. A positive bias may emerge above the MYR1.68 level, with an exit set below the MYR1.62 threshold. Towards the upside, the immediate resistance is at the MYR1.80 mark. This is followed by the MYR1.90 level.
Source: RHB Securities Research - 20 Feb 2020
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