Kumpulan Fima Bhd (KFIMA, 6491)

• KFIMA closed 1.5% higher at RM2.00 on Thursday.
• There is a formation of three white soldiers recently. KFIMA has rebounded on 20 Sept once it has tested its MA 200 and it continues to trend higher to close above its MA 20 on Thursday.
• There is also a bullish MACD crossover found in its MACD indicator. Backed by an uptick in RSI, we expect the buying momentum to continue.
• Resistance levels are identified at RM2.04 (R1) and RM2.11 (R2).
• On the flipside, support levels are pegged at RM1.90 (S1) and RM1.84 (S2).

Source: Rakuten Research - 24 Sept 2021