FM Global Logistics poised to surge, says RHB Retail Research
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 β 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.
βIn the event it drops below the 85 sen support, the stock may resume its downtrend, beneath the 21-day average line,β it said.
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