How high can Frontken (0128.kl) go?
- Frontken has been on an Uptrend for some time. I did write about it months ago (click on the link below).
- In the recent chart, we see that the price is trying to break Resistance @ RM1.67.
- At the time of writing, we see an LC breaking through this Resistance at its 3rd attempt.
- If this is a genuine break, volume must be high and price will then do a pullback just above the Resistance line.
- One should not trade based on emotions. Let's wait and see the progress after few days.
- In the recent chart, we see that the price is trying to break Resistance @ RM1.67.
- At the time of writing, we see an LC breaking through this Resistance at its 3rd attempt.
- If this is a genuine break, volume must be high and price will then do a pullback just above the Resistance line.
- One should not trade based on emotions. Let's wait and see the progress after few days.
- Price did a pullback, bouncing just above the 20MA on 25 Sep.
- At the time of writing, price is closed at RM1.76 on average vol.
- There is no clear direction where the price will be heading, so in this situation its best to stay aside till there is a clear trading edge.
- We shall continue to monitor the stocks performance. In the meantime, feel free to look into my previous comments about this stock.