RHB Retail Research
Trading Stocks - Formosa Prosonic Industries
At the time of writing, Formosa Prosonic Industries may rebound further after it continued to hold above the MYR1.20 support. As the stock recently rose above the 21-day SMA line, this indicates a positive sign. A positive bias may emerge above the MYR1.20 level, with an exit set below the MYR1.20 threshold. Towards the upside, the immediate resistance is at the MYR1.35 mark, followed by the MYR1.47 level.
Source: RHB Securities Research - 9 Apr 2020
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