Frontken Corporation may trend higher after it broke above the RM3.60 resistance and hit a new 52-week high yesterday. Given that the stock has broken out from a 6-week bullish rectangle pattern, the resumption of its previous uptrend may be taking place now. A bullish bias may emerge above the RM3.60 level with stop-loss set at RM3.38, below the 50-day EMA. Towards the upside, near-term resistance level is seen at RM4.00, followed by RM4.20

Entry : RM3.60–3.74

Target : RM4.00, RM4.20

Exit : RM3.38

Source: AmInvest Research - 23 Feb 2024