Favco may trade higher after closing at its highest in a year last Friday. A position can be initiated above RM1.55, with a close below last Friday’s low of RM1.48 as stop-loss. The price target is RM2.00, with selling also expected at RM1.80. The trade may not work should the stop-loss be triggered, after which the stock may continue its sideway move. Strong support lies at RM1.35.
Source: OSK
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