RHB Retail Research
Trading Stocks - Formosa Prosonic Industries
Formosa Prosonic Industries rose higher to test the immediate resistance of MYR1.57. If it breaches the resistance level, it should breakout from the downtrend line. If this happens, a positive bias is likely to emerge and send the share price towards MYR1.64, followed by MYR1.70. A downside breach of the MYR1.49 support would negate this expectation, and the stock may fall back into a sideways consolidation mode.
Source: RHB Securities Research - 19 Oct 2020
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