RHB Retail Research
Trading Stocks - FoundPac Group
FoundPac Group may rebound higher after forming a "Bullish Engulfing" pattern in its latest trade. As the stock recovered above the rising 50-day SMA line, this indicates a positive sign. A positive bias may emerge above the MYR0.825 level, with an exit set below the MYR0.75 threshold. Towards the upside, the immediate resistance is at the MYR0.925 mark, followed by the MYR1.01 level.
Source: RHB Securities Research - 3 Mar 2020
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