Kumpulan Fima set for a technical rebound, says RHB Retail Research

TheEdge Mon, Jul 04, 2022 07:15am - 1 year View Original

KUALA LUMPUR (July 4): RHB Retail Research said Kumpulan Fima Bhd is set for a technical rebound as it rose strongly to breach the RM2.60 resistance last Friday with solid trading volume — forming a “higher high” bullish pattern above the 21-day average line.

In a trading stocks note on Monday (July 4), the research house said that as it printed a “White Marubozu” bullish candlestick during the latest session, the stock is expected to jump further towards the RM2.74 resistance, or June 7’s high, followed by RM2.86, or June 10’s high.

“If it falls below the support level of RM2.50, the stock may trend downwards as it trades below the average line,” it said.

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