Frontken Corporation is attempting to stage a technical breakout after testing the immediate resistance marked at MYR3.48 on surging trading volume – forming a long bullish candlestick. If it manages to cross above that level, the buying pressure may accelerate towards the next resistance of MYR3.79, followed by the MYR3.93 historical high. In the event it falls below the MYR3.20 support, this expectation would be cancelled.

Source: RHB Securities Research - 7 Sept 2021