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Target price RM2.04, RM2.21
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Last closing price RM1.90
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Potential return 7.3%, 16.3%
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Support RM1.85
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Stop loss RM1.83
Possible for further upside. With reference to the Technical
note published on 25th January 2017, target price previously set was
achieved and FGV’s share price went into a short congestion phase. As
the ongoing uptrend still coincides with both bullish RSI and MACD
indicators, the share price is poised for another round of upward
movement in near term. Should resistance level of RM1.90 be broken, it
may continue to lift price higher to the next resistance levels of
RM2.04 and RM2.21. However, failure to hold at support level of RM1.85
may indicate weakness in the share price and hence, a cut-loss signal.
However, failure to hold at support level of RM1.85 may indicate weakness in the share price and hence, a cut-loss signal
Source: PublicInvest Research - 10 Feb 2017
FGV (5222) - Technical Buy: FGV (5222)
http://klse.i3investor.com/blogs/PublicInvest/115547.jsp
