RHB Retail Research
Trading Stocks - Formosa Prosonic Industries
Formosa Prosonic Industries’ 1-week retracement has likely completed with a low near the 21-day SMA line. The past two sessions’ rebound on improved volume profile suggests a positive bias may emerge above MYR2.60 with resistance points set at MYR2.85 and MYR3.00. A downside breach of MYR2.60 would negate this price forecast.
Source: RHB Securities Research - 29 Jan 2021
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