FEYTECH Holdings Berhad

• We believe FEYTECH may trend higher after forming two consecutive white candlesticks from a bullish pennant pattern. The recent bullish crossover and a healthy RSI further suggests that the uptrend could persist in the near term.

• Thus, we expect the upward trajectory to steer the stock higher and test the next resistance at RM0.855 (R1) followed by RM0.92 (R2) in the near term.

• On the downside, stop-loss is set at RM0.71.

Source: Rakuten Research - 3 Jan 2025

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