Focus Lumber may trend higher after breaking its resistance level
Stock Code: 5197
Focus Lumber may trend higher after recently surpassing the MYR1.63 level. Traders may buy as a bullish bias could be present above this level, with a target price of MYR1.88, followed by MYR1.96. The stock may drift sideways if it cannot sustain above the MYR1.63 mark. In this case, further support is anticipated at MYR1.55, where traders can exit upon a breach to avoid a further correction.
by RGB Research
The Company is mainly engaged in the manufacture and sale of plywood veneer and LVL.