FGV Holdings’ price is set for an uptrend rebound after bouncing off the 21-day SMA line, testing the MYR1.50 mark during intraday session yesterday – backed by surging trading volume. If it manages to surpass that mark, the bullish momentum is likely to persist – heading towards the MYR1.60 recent high, followed by the MYR1.75 next resistance level. However, a decline below the MYR1.42 support triggers a downwards movement.

Source: RHB Securities Research - 20 Feb 2024