• Technical BUY with +23.2% potential return
• Last price: RM0.925
• Target price: RM1.07, RM1.14
• Support: RM0.84
• Stop-loss: RM0.835

BUY with a target price of RM1.14 and stop-loss at RM0.835. FPG is currently making higher highs and higher lows, a key characteristic of an uptrend. The buying signal remains intact with the stock currently trading above the cloud. The heat wave indicators - Tenkan-senline, Kinjunsen line and the Chikao span line - are showing bullish signals. This bullish pattern is also confirmed by the DMI while the MACD is on the verge of making a golden cross to positive signal. We peg our targets based on 1.38x and 1.61x Fibonacci Extension levels at RM1.07 and RM1.14 in the near term.

Expected Timeframe: 2 weeks to 2 months

Source: UOB Kay Hian Research - 9 Jun 2017