Sector: Technology

Being in the same sub-sector with JFTECH, the performance of FPGROUP share price, as compared to its peers, had been very disappointing especially during the global tech boom early this year.

FPGROUP is currently trading at RM0.820, with immediate resistance at RM0.825 and immediate support at 0.755. FPGROUP seems to have found the bottom and begin to show the reversal signal with the formation of higher lows and higher highs pattern. Besides, golden cross (EMA25 crossing above EMA50) has also occurred for FPGROUP, which further confirm the reversal for FPGROUP.

As reported in the recent QR, FPGROUP has been recovering sales order from the global market since early of the year, which we consider this a very positive prospect for the company. From the perspective of Technical Analysis, the share price is now trading around the resistance region, hence we suggest that it would be safer to buy when the breakout occurs.

Reason to Monitor: NASDAQ breaks new high / Good Prospect as reported in the QR.

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