Kumpulan Fima Bhd (KFIMA, 6491)

• Share price closed 5.6% higher at RM2.66 on Friday.

• KFIMA’s share price is moving upwards progressively. It formed a white marubuzo candlestick with high buying volume and broke out from its resistance level of RM2.60 on Friday.

• Backed by upticks in its indicators and bullish MACD crossover, we believe its share price is expected to move higher.

• Resistance level is identified at RM2.86 (R1).

• On the flipside, support levels are pegged at RM2.47 (S1) and RM2.43 (S2).

Source: Rakuten Research - 4 Jul 2022