Yesterday, FGV slid 3.0 sen or 1.57% to close at RM1.88, an all-time low since its debut on Bursa Malaysia in June 2012. The share price has been bashed down by more than half from its IPO price on concerns relating to cost control and plantation age profile. Technically, the stock has entered into an uncharted territory, implying more uncertainty. Key indicators are showcasing bearish outlook due to strong selling momentum. However, downside risk could be limited from here as Stochastic indicator is already in the oversold region. Immediate support can be found at RM1.80 if the market sentiment turns neutral on the stock.

Source: Kenanga Research - 10 Jun 2015