F&N’s uptrend should resume after it printed an all time high close yesterday, above the 14-month resistance. Purchase can be made above the psychological RM20.00, with a close below yesterday’s low of RM19.20 as a stop-loss. The price target is RM24.60, with selling also anticipated at RM23.00. Failure to hold above RM20.00 should extend the stock’s sideways move. Further support is at RM18.00.
Source: OSK
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