FABER recently announced a special dividend of 18.0 sen per ordinary share of 25.0 sen each. The group continued its rebound rally yesterday with a climb of 9.0 sen or (+4.07%) to settle at RM2.30. MACD indicator has also staged a cross-over its signal line, undergoing its bullish divergence. On top of the high trading volume, both Stochastic and RSI indicators have also rebounded off its oversold region, suggesting renewed buying interest on the stock. All in, we view that with continued buying interest, the share price could continue its uptrend towards RM2.43 (R1) and possibly RM2.67 (R2) in the mid-term.
Source: Kenanga