Federal International Holdings Bhd (FIHB, 8605)

• Share price closed 0.78% higher at RM0.645 on the previous trading day.

• FIHB has been in a long-term uptrend movement since March 2020. Over the short term, there is an uptrend channel and its share price closed above all its key moving averages.

• The share price is currently trading near the uptrend line which acts as its support. Backed by upticks in its indicators and uptrend movement, FIHB is poised to move higher awaiting for breakout.

• Resistance levels are identified at RM0.665 (R1) and RM0.700 (R2).

• On the flipside, support levels are pegged at RM0.630 (S1) and RM0.595 (S2).

Source: Rakuten Research - 27 Jan 2022