FM Global Logistics poised to surge, says RHB Retail Research

TheEdge Wed, Feb 16, 2022 07:27am - 5 months View Original


KUALA LUMPUR (Feb 16): RHB Retail Research said FM Global Logistics Holdings Bhd is poised to surge as it rebounded from its immediate support while heading towards the immediate resistance of 90 sen yesterday – supported by stronger volume.

In a trading stocks note today, the research house said if a breakout happens above that level, it expects the stock to scale higher towards the 93.5 sen resistance, before printing the RM1.00 psychological threshold.

β€œIn the event it drops below the 85 sen support, the stock may resume its downtrend, beneath the 21-day average line,” it said.

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