• Share price closed 3.5% higher at RM1.48 on Thursday.
• FGV is trading near the neckline of its cup and handle formation. It has also breakout from its tweezer bottom candles signalling potential uptrend.
• The share price is now trading above all key moving averages. Backed by upticks in its indicators and uptrend in CPO prices, the share price is poised to move higher.
• Resistance levels are identified at RM1.50 (R1) and RM1.55 (R2).
• On the flipside, support levels are pegged at RM1.41 (S1) and RM1.35 (S2).
Source: Rakuten Research - 22 Oct 2021
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