Rakuten Trade Research Reports

Technical View - FM Global Logistic Holdings Berhad

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Publish date: Thu, 08 Sep 2022, 09:31 AM
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FM Global Logistic Holdings Berhad (FM, 7210)

• Share price closed 8.2% higher at RM0.595 on Wednesday.

• FM broke out from its resistance level twice yesterday at RM0.56 and RM0.575 with strong buying volume. The share price also closed above its MA 20 and MA 50 lines. Coupled with indicators showing uptick momentum, share price is expected to move higher.

• Resistance levels are identified at RM0.60 (R1) and RM0.62 (R2).

• On the flipside, support levels are pegged at RM0.545 (S1) and RM0.535 (S2).

Source: Rakuten Research - 8 Sept 2022

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