KUALA LUMPUR (Feb 14): RHB Retail Research said FGV Holdings Bhd is set to trend upwards further as it firmly breached the immediate resistance of RM1.55 last Friday – printing a neutral “White Marubozu” bullish candlestick.

In a trading stocks note today, the research house said if the breakout is maintained above that level, it expects the stock to rise further towards the RM1.78 point – the highest level since Aug 2018, followed by the RM2.00 threshold.

“In the event it drops below the RM1.48 support, the stock may resume its downtrend, beneath the 21-day average line,” it said.