FM Global Logistics Holdings is set for a major uptrend reversal after rebounding strongly above the MYR0.61 sideways consolidation phase, banking on surging trading volume. Riding above the rising 21-day SMA line, the stock is likely to trend higher towards the MYR0.70 immediate resistance, followed by the next resistance at MYR0.80. On the flip side, a drop below the MYR0.575 support would indicate a potential downtrend, beneath the SMA line.

Source: RHB Securities Research - 3 Jan 2024